The European Commission calls for blockchain regulatory sandbox operator tender

The European Commission (EC) has recently announced the call for tenders for contracting a consortium, with the aim to facilitate and operate a pan-European regulatory sandbox for blockchain and particularly, distributed ledger technologies, or DLT. 

The European Blockchain Observatory has invited interested economic operators and technological research institutes to submit a tender through the e-Submission available from the TED website.

European Commission aims 

The EC aims to award a contract through the call for tender to achieve two key objectives:

• act as a third party to enable and operate (under the Commission’s control) a regulatory sandbox with EU and national authorities and regulatory agencies to enhance dialogue and cooperation with pioneers of advanced application software that use Distributed Ledger Technologies (DLT), such as public blockchains (either standalone or in conjunction with other information society services). In a directing and legal role, the contractor will assist the EC in the running of the regulatory sandbox (providing legal expertise and advice)
• give comprehensive legal assistance on all legal and regulatory aspects relevant to the functioning of EBSI’s key services and implementations approved by the European Blockchain Partnership to the EC and the European Blockchain Partnership. The professional will give legal advice and assistance on all important regulatory matters relating to the EBSI blockchain infrastructure, including civil and corporate law, data protection, public administration law, cybersecurity, and all other applicable national and EU regulations. The expert should also help the European Commission with the legal concerns and writing of the EBSI core services operation transfer to a selected legal vehicle. Furthermore, the expert should assist the Commission (and any other designated organization or partner in liaison with the EC) with all GDPR-related activities relating to the EBSI core services and, as defined by the EC, the use cases. This legal assistance is distinct from the legal work that will be required under the “regulatory sandbox.”

Europe is actively taking part in regulating crypto industry. As TheCoinRise reported, the European Commission said that it will bring CBDC proposal in 2023.