By 2024, the EU is expected to introduce new standards that will speed up and reduce the cost of overseas instalments using blockchain and crypto assets, as well as the trust it can build, including a reward of between €27 billion and €55 billion.
The EU Leader will introduce a bill explaining how existing principles apply to cryptoassets, and set new standards where there are holes, a detailed Reuters agency with reference to two vague EU reports, without determining when it can be completed.
The Union also needs to simplify the exchange of information within the budget unit in order to increase competition and expand the administrative framework, while maintaining the rule “the same danger, the same guidelines, the same guidelines” included in the report.
Brussels also plans to introduce new principles that will allow new clients to quickly start using monetary administrations after the completion of the checks against tax evasion and identity checks, the report says.
Another report by the European Parliamentary Research Service (EPRS) then argues that the development of administrative proposals may increase the increased operational flexibility of elements of the EU’s monetary segment, including their data and the security of innovation (ICT) exchange, by smoothing and redesigning existing standards and preconditions.
“The potential included an incentive to increase by €55 billion, as opposed to the typical situation. A more reasonable situation shows a lower prognosis for extending the included estimate by €27 billion”, – stated in the EPRS report.