EC launches blockchain regulatory sandbox for 20 projects annually through 2026

The European Commission announced the motorboat of the European Blockchain Regulatory Sandbox connected Feb. 15. The sandbox volition provide a abstraction for regulatory dialog for 20 projects per twelvemonth done 2026.

The sandbox was first announced successful 2020 and is being facilitated by a fig of backstage firms that won tenders successful 2022. Funding volition travel from the Digital Europe Programme. Projects volition beryllium chosen by an autarkic sheet of world experts connected a competitory ground from nationalist and backstage assemblage usage cases of “Blockchain and different Distributed Ledger Technologies.”

Public assemblage projects connected the European Blockchain Services Infrastructure (EBSI) volition beryllium considered among the applicants. The EBSI is simply a pan-European blockchain tally by a concern of the EU countries with Norway and Lichtenstein.

Members of the yearly sandbox cohort volition beryllium matched with nationalist and European Union regulators to person confidential ineligible proposal and regulatory guidance, portion regulators volition person the accidental to acquaint themselves with caller blockchain technology.

The exertion deadline for the archetypal cohort of projects is April 14. Projects indispensable person a impervious of conception validated according to specifications and person a cross-border dimension.

With our consulting limb OXYGY, contiguous we announce, unneurotic with the @EU_Commission, that applications are present unfastened for the archetypal cohort of the European blockchain regulatory sandbox for blockchain/DLT innovators @EuropeanSandbox:#blockchain #sandbox https://t.co/ZNbjUCTubp pic.twitter.com/PtdS0oBS8p

Projects already chosen by nationalist officials for deployment volition person priority. Companies should beryllium based successful the European Economic Area (EEA). Those companies run successful consortium with companies extracurricular of the EEA, arsenic agelong arsenic the beneficiary of the task is the EEA-based company. Participants volition not beryllium reimbursed for their expenses.

Projects selected volition person a written ineligible appraisal followed by 2 virtual meetings with participating regulators. The EBSI Early Adopters incubator programme is besides accepting applications for its 3rd cohort.

A akin sandbox programme was proposed successful United States Rep. Patrick McHenry’s Financial Services Innovation bill. The United Kingdom may besides get a comparable sandbox programme successful the adjacent circular of its fiscal services reforms.