ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

European Commission Considers Blockchain Standards, Licenses For Crowdfunding Platforms



De Silva

The European Commission will soon create common standards for blockchain technology and propose an EU-wide licensing system for crowdfunding platforms.

On Monday, it was reported that the European Commission – the independent executive arm of the European Union – has plans to create common standards for blockchain technology, the computational system that undergirds many of the world's largest cryptocurrencies. As detailed in an EU document, the commission will also publish a draft proposal for a licensing system, which would be utilized throughout the European bloc, pertaining to crowdfunding platforms.

"An EU framework would offer a European passport, and, at the same time, ensure the proper management of platforms and the protection of fund providers," the document explained. Instead of seeking authorization on a country-by-country basis, platforms could conceivably receive EU-wide approval, which would likely reduce compliance costs while saving time. Of course, in light of Brexit, the United Kingdom would not be party to such an arrangement.

Last week, European Commission vice president Valdis Dombrovskis said, "We need to assess further under what circumstances cryptocurrencies and related services are covered by existing regulation. This depends very much on the facts and circumstances around specific crypto-tokens."

Now, per Reuters, the Commission will reportedly examine whether existing financial regulation appropriately applies to cryptocurrencies and initial coin offerings (ICOs).

It appears that the EU document also included hacking threat assessment suggestions for FinTech firms, as well as a cost-benefit analysis of "cyber threat testing" for large players in European financial markets.

With regard to blockchain standards, the document explained, "An EU-wide fintech market will not reach its full potential without the development of open standards that make interoperability possible, simplify the exchange of data between market players, and facilitate competition."

Lastly, by the fourth quarter of 2018, the commission will apparently present a "blueprint" for regulatory sandboxes, which will include best practices and guidelines.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest European Commission, European Union or other Ethereum ecosystem news.