Can the EU still win the tokenization race?

1. Availability of investment capital for the Crypto sector

2. Technological hubs

3. Crypto-exchanges.

4. Policy environment.

Now, going back to Brussels, what happens there?

Conclusions

  • a task-force must be created at EU level to evaluate policy measures for the sector staffed with representatives of businesses, advisors and of course policy makers;
  • a facilitated compliance “fast-track” is needed, with reduced prospectus and information requirements about the issuer, similar to those mentioned above in the US JOBS Act;
  • bureaucracy and compliance costs can be dramatically reduced by doing all the filings electronically;
  • a fairly high threshold for raising capital is needed, under which the issuer will benefit from the exemptions and “fast-track” compliance regime. If the US have a US$50m threshold, let´s make it €100m here.
  • Taxation is a national matter, however EU countries cannot compete in attracting the highly moveable crypto business with corporate rate taxes of 30% and above. We have to beat the US and Swiss tax rates to compete.
  • On the regulatory side a number of modifications to the Annex I to MiFID II will be required together with some other legislative interventions.

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Andrea Bianconi

Andrea Bianconi

a lawyer , consultant , writer - SUPPORT MY FREE & INDEPENDENT WORK BY DONATING AT www.bianconiandrea.com;