The European Commission launches Regulatory Sandbox for Blockchain
The sandbox establishes a pan-European framework for regulatory dialogues to increase legal certainty for innovative blockchain solutions. Funded by the Digital Europe Programme and delivering on the SME strategy, the sandbox is running from 2023 to 2026 and will annually support 20 projects including public sector use cases on the European Blockchain Services Infrastructure.
Projects will be chosen through calls for expression of interest. Every year, the most innovative regulator participating in the sandbox will also be awarded a prize. The sandbox will be facilitated by a consortium under the leadership of Bird & Bird and its consulting arm OXYGY supported by blockchain experts of WBNoDE and web-designers of Spindox, which has been procured through an open call for tenders in 2022. The selection process will be overseen by a panel of independent academic experts.