In February 2018, the UK Treasury Committee launched an inquiry into digital currencies. In the course of its inquiry the Committee received oral and written evidence from a number of key players in the crypto space, including representatives from Ripple, CryptoUK and Blockchain, together with evidence from the FCA (the UK financial services regulator), the Bank of England and HM Treasury. Earlier than expected, the Treasury Committee published its crypto-assets report and conclusions and recommendations…
In March 2018 the European Commission issued a proposal for a regulation on crowdfunding service providers (“CSPs”) (the “Proposal”) as part of its broader FinTech action plan. CSPs operate online platforms which facilitate investments in innovative companies, start-ups and other unlisted firms companies by private investors. The Proposal plans to enable CSPs to offer their services across Europe more easily and also to improve access to CSP services across the EU. On 10th August 2018,…
On 18 July 2018 the European Parliament Committee on Internal Trade (“CIT”) published a draft report setting out a motion for a European Parliament Resolution regarding how blockchain could be harnessed to enhance international trade and supply chain management. The report focuses on the use of permissioned (private) blockchain solutions. Blockchain Benefits The CIT believes that blockchain provides enormous opportunities for reducing barriers within global trade. In particular, the potential benefits of permissioned blockchain…