France’s Financial Markets Authority (AMF) has proposed that all of Europe adopt a regulatory sandbox to support the emerging security token industry.
The “Digital Lab” would run for three years, the watchdog said in a March 6 legal analysis, exempting projects from financial regulations like the MiFID and CSDR that AMF’s analysis deemed incompatible with the blockchain sector’s growth.
“These frameworks were designed to frame centralized market infrastructures,'' AMF President Robert Ophèle said in a speech. He explained that “they are not suited to the decentralized nature of the blockchain environment” and therefore render many projects almost assuredly unprofitable.
But Ophèle insisted that Europe could not just adopt new regulations for blockchain and security tokens overnight. Read More...