Blockchain technology has the potential to transform society, but there is a need for legal clarity and certainty and therefore a common EU approach. This is the key message of an own-initiative opinion adopted by the European Economic and Social Committee (EESC) on 30 October, which also calls on the European Commission to launch a comprehensive initiative to make the EU a global authority in this field.
With interest rates close to 0% or even negative, traditional savings instruments (savings accounts, bonds,…) no longer yield much. Fortunately, the legal framework has recently evolved and has enabled cooperative platforms to offer new forms of investment: crowdfunding, crowd lending or the sale of invoices allow the investor to finance companies directly on attractive terms.
Experts will present the evolution of the legal framework, the current market conditions, the amounts involved as well as the functioning of the platforms and how to proceed, both for investors and borrowers.
The first negotiations on new rules covering the EU’s crowdfunding sector took place yesterday in Strasbourg. ECR Group Slovakian MEP Eugen Jurzyca is leading the talks on behalf of the Parliament and is hoping to find a balanced agreement before the end of the year.
A summary of the debate is now available.
The summary of the hearing is now available.
Update – Commission welcomes EU Council’s negotiating mandate on the crowdfunding proposal
As part of its efforts to improve access by investors and businesses to new financing sources, the EU is setting out a new regulatory framework for the operation of crowdfunding platforms.
This new framework makes it easier for crowdfunding platforms to provide their services across the EU. It harmonises the minimum requirements on these platforms when operating in their home market and other EU countries. The proposal also increases legal certainty by harmonising investor protection rules.