In April 2020, the European Commission launched a major consultation with the “Fintech” industry with a view to reviewing and updating – by the third quarter of 2020 – its strategy on “Digital Finance”. Within Fintech, digital assets offer promising prospects for financial innovation.

This is why Adan wished to contribute to this consultation: 

  • outlining the opportunities offered by the blockchain and digital assets for the financial sector, particularly in the field of payments and decentralized/open finance ;

  • by specifying the main obstacles in order to take full advantage of these opportunities, in particular: legal uncertainty for the players and the lack of technological neutrality in certain respects, the difficult relations with the banking system and the GAFA, or the lack of competition that hinders their growth ;

recommending a proportionate and differentiated regulatory approach for digital assets that preserves industry innovation and competitiveness while ensuring user/investor protection and fair competition within traditional capital markets.