#DigitalAssets / European Commission Adopts Digital Finance Package and Legislative Proposals on Crypto-Assets

The European Commission has announced the adoption of a Digital Finance Package along with legislative proposals on crypto-assets (digital assets)… According to a statement by the Commission, the policy is designed to “boost Europe’s competitiveness and innovation in the financial sector, paving the way for Europe to become a global standard-setter.” The Commission believes it will give consumers more choice and opportunities while ensuring consumer protection and financial stability.

[Commission Executive Vice President:] “The future of finance is digital… Technology has much more to offer consumers and businesses and we should embrace the digital transformation proactively, while mitigating any potential risks…”

The goal of the Digital Finance Package is to “make Europe’s financial services more digital-friendly and to stimulate responsible innovation and competition among financial service providers.” This includes both artificial intelligence (AI) and blockchain technology… Stablecoins, or e-Money tokens, are included in the proposed legislation.