EU Now Accepting Applications for Its Blockchain Regulatory Sandbox

The sandbox, which will run for the next three years, is open to "companies from all industry sectors" and public entities, with priority given to more mature projects.

AccessTimeIconFeb 15, 2023 at 11:18 a.m. UTC
Updated Feb 15, 2023 at 5:59 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The European Union's executive arm on Tuesday launched a regulatory sandbox for innovative applications of distributed ledger technologies (DLT) that underline crypto.

The European Commission's blockchain regulatory sandbox, or testing environment, aims to "facilitate the cross-border dialogue with and between regulators and supervisors on the one hand, and companies or public authorities on the other hand," an official announcement said.

The initiative is part of a EU funding program to bring businesses, citizens and public administrations to the digital age. The bloc is also exploring how DLT-based solutions could help cut out intermediaries in securities trading, with a pilot due to begin in March.

The DLT sandbox will run until 2026 and will annually support 20 projects involving blockchain applications for public and private sector use "to verify information and make services trustworthy."

The first call for applications is open until April 14, with a panel of independent academic experts selecting projects for the first cohort. The sandbox is open to "companies from all industry sectors" as well as public entities.

"Priority will be given to more mature use cases where legal and regulatory questions of broader relevance arise," the announcement said.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.