© iStock by Getty Images - 1153383523 phive2015
DG CNECT is pleased to announce the publication of the European Blockchain Sandbox (EBS) 2023 best practices report (Part A). This first edition of the best practices report shares a summary of the experiences gained and lessons learned over the first year of setting up and running the regulatory sandbox.
Part A of the best practices report covers the observations and best practices from the early stages of setting up the sandbox and communicating it publicly, through the first applications phase and selection of the first cohort of use cases, to the outreach to regulators and authorities, and the beginning of the first set of dialogues.
As the dialogues for the first cohort of use cases are ongoing, there will be a Part B of the first best practices report published in Spring 2024, which concerns the best practices and lessons learned in relation to the first round of regulatory dialogues, respecting the confidentiality of those dialogues.
Background
The European Blockchain Sandbox was launched by the European Commission in 2023 to provide a confidential platform for innovative blockchain use cases involving Distributed Ledger Technologies. It gives projects the chance to be at the forefront of the blockchain dialogue and to engage in discussions with regulators and authorities at both national and EU level. It aims to help projects understand novel regulation issues, increase legal certainty and contribute to the development of best practices.