Crypto assets and distributed ledger technology - Related Opinions

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A digital euro and the scope and effects of the legal tender status of banknotes and coins

Adottati on 21/09/2023
Riferimento: 
ECO/616-EESC-2023
Rapporteur: 
Antonio GARCÍA DEL RIEGO (Employers - GR I / Spain)
Co-rapporteur: 
Stefano PALMIERI (Workers - GR II/Italy)
Sessione plenaria: 
581 -
Sep 20, 2023 Sep 21, 2023

The EESC supports the digital euro project, while underlining the importance of a clear European legal framework able to establish the exceptional possibility of temporary exemptions for certain payees, and to harmonise practices and standards that vary from one Member State to another. It is essential to ensure that the digital euro does not negatively impact financial stability or the lending potential of credit institutions. The EESC encourages a broad public debate on the reasons for possible issuance of a digital euro, its merits and drawbacks, in order to make informed decisions and ensure public understanding of the project.

Parere del CESE: A digital euro and the scope and effects of the legal tender status of banknotes and coins

Crypto Assets – Challenges and opportunities

Adottati on 21/09/2022
Riferimento: 
ECO/591-EESC-2022
Rapporteur: 
Philip VON BROCKDORFF (Workers - GR II / Malta)
Co-rapporteur: 
Louise GRABO (Diversity Europe - GR III/Sweden)

Crypto-assets are a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology (e.g. blockhain). They are neither issued nor guaranteed by a central bank or public authority, and can be used as a means of exchange and/or for investment purposes and/or to access a good or service. A wide range of crypto-assets exist, encompassing different features and functions, hence presenting different challenges and risks.

Parere del CESE: Crypto Assets – Challenges and opportunities

Financial Technology (FinTech) (communication)

Adottati on 11/07/2018
Riferimento: 
ECO/454-EESC-2018-01056-00-00-AC-TRA
Referral: 
COM(2018) 109 final COM(2018) 109 final
Rapporteur: 
Petru Sorin DANDEA (Workers - GR II / Romania)

The EESC supports the Commission's Fin Tech Action Plan and considers that the development of FinTech can deliver a number of benefits to both European businesses and their clients. Measures included in the action plan on improving cyber security and the resilience of the financial sector are important, but should be supplemented by rules to ensure uniformity in the development of FinTech in the EU. Similarly, the Committee believes that the level of regulation for FinTech should be equivalent to that in the financial sector.

The EESC calls on the Commission to identify possible rules for companies offering cloud services with regard to their responsibility for securing the data they host.

Parere del CESE: Financial Technology (FinTech) (communication)

Capital Markets Union: mid-term review (Communication)

Adottati on 19/10/2017
Riferimento: 
ECO/437-EESC-2017-03251-00-00-ac-tra
Referral: 
COM(2017) 292 final
Rapporteur: 
Daniel MAREELS (Belgium)

This opinion is part of a wider package of four EESC opinions on the future of the European economy (Deepening of the Economic and Monetary Union and Euro area economic policy, Capital Markets Union and The future of EU finances). The package of opinions underscores the need for a common sense of purpose in the Union governance, which goes far beyond technical approaches and measures, and is first and foremost a matter of political will and a common perspective. The EESC is strongly in favour of the Capital Markets Union (CMU) and finds it absolutely necessary that the CMU becomes a reality in all EU Member States and calls for the political will at European level and in the Member States to make all necessary efforts and to establish all of the relevant conditions required.

Parere del CESE: Capital Markets Union: mid-term review (Communication)

Digitalisation and innovative business models in the European financial sector, impact on employment and customers (own-initiative opinion)

Adottati on 26/04/2017
Riferimento: 
CCMI/147-EESC-2016
Rapporteur: 
Carlos TRIAS PINTÓ (Spain)
Co-rapporteur: 
Pierre GENDRE (France)

Banking and insurance are evolving. Insurance companies and banks are at the forefront of the development of the digital economy. The very nature of their activities lends itself to the intensive use of the new technologies. In a highly competitive framework marked by a keener pursuit of competitiveness, insurance companies and banks have become part of an ongoing drive for innovation.

Parere del CESE: Digitalisation and innovative business models in the European financial sector, impact on employment and customers (own-initiative opinion)

Promoting innovative and high growth firms (own-initiative opinion)

Adottati on 14/12/2016
Riferimento: 
ECO/403-EESC-2016-00899-00-01-ac-tra
Rapporteur: 
Antonio GARCÍA DEL RIEGO (Employers - GR I / Spain)

The EESC encourages the Commission to pursue its efforts to develop policy proposals aimed at promoting the creation of innovative and high growth firms. These policy proposals should strengthen the single market, reinforce the clusters and ecosystems in which innovative start-ups are created, develop the equity component of the European capital markets, encourage an academic agenda focusing on jobs for the future and minimise the cost and red tape involved in starting a new entrepreneurial venture.

Parere del CESE: Promoting innovative and high growth firms (own-initiative opinion)

Action Plan on Capital Markets Union (communication)

Adottati on 17/02/2016
Riferimento: 
ECO/384-EESC-2015-05437-00-02-ac-tra
Referral: 
COM(2015) 468 final
Rapporteur: 
Daniel MAREELS (Belgium)

As the recovery of Europe's economies remains sluggish and fragile and the level of investment remains low, it should be a matter of priority to deploy every possible means to achieve a robust and stable economy. The Committee therefore endorses the goals of the action plan i.e. to mobilise capital in Europe and channel it to all companies, infrastructure and long-term projects. The Committee has serious concerns, however, regarding the relevance and effectiveness of the capital markets union for SMEs. They must be able to choose the funding channels that suit them best. At the same time the EU's economic and financial stability should be one of the priorities of the capital markets union. There should thus be more simplification, transparency and comparability of financial instruments.

Parere del CESE: Action Plan on Capital Markets Union (communication)

Downloads: 

The Capital Markets Union Package - European Parliament

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