ESMA report on Distributed Ledger Technology
The European Securities and Markets Authority (ESMA) has issued a report on Distributed Ledger Technology (DLT). This technology is used in creation of most digital and crypto currencies online (such as Bitcoin), also in finance world in order to reduce the costs and increase the efficiency. ESMA’s view is that the current EU regulatory framework does not represent an obstacle to the use of DLT in the short term.
Also ESMA’s position is that regulatory action is premature at this stage, considering that the technology is still at an early stage. ESMA called for the industries to work together towards solution for possible challenges (such as privacy and interoperability).
Read the full report