On March 8, the European Commission unveiled its strategy for the development of the fintech sector for the current year. The document calls for increasing “regulatory and supervisory capacity and knowledge” in the field of new technologies, including blockchain. The commission also plans to open a Fintech Lab research center in the second quarter of 2018.
“Technologies like blockchain can radically change the financial services industry. We need to build a friendly infrastructure that allows innovation to flourish, while limiting risks and protecting consumers,” Maria Gabriel, Commissioner for the Digital Economy and Society, said in a media interview.
The department has outlined a number of issues that it plans to address this year. Among them, the introduction of legal clarity was noted on the issues of smart contracts, initial coin offerings and many other aspects that are in one way or another related to blockchain technologies.
According to the report, since the beginning of this year, the European Union has revised the Payment Services Directive. Now banking institutions that operate in the European Union must provide their own communication channels, such as APIs, to applications running on the blockchain. The latter may need them to make payments.
According to http://europa.eu
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