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#EU #Watchdog: #DistributedLedgers Still Face #KeyChallenges

EU Flags

The #European #Securities and Markets Authority ( #ESMA ), a securities trade #watchdog based in the #EU, has released a new discussion paper on #blockchains and #distributedledgers as part of a fact-finding effort aimed at developing policy positions on the #technologies.

The paper, comes more than a year after the organization first issued a call for information on the technology. ESMA has also hosted its own events, as well as participated in others focused on the use of blockchain applications in #finance.

The report states:

"ESMA appreciates that the [distributed ledger technology] may have different applications and impacts on financial activities, market participants and market infrastructures, depending on a variety of elements, including its capacity to address a number of technical, governance, legal and regulatory issues. It is too early at this stage to form a definite opinion on whether the DLT will be able to address these issues in an efficient way."

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