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
Drive the Crypto Policy Conversation Forward
October 24, 2023 • Convene • Washington D.C.Where the industry establishes the digital economy’s legal, regulatory and compliance best practices for the future.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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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.