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On 23 February 2022, the European Commission unveiled a proposal for an EU regulation – the data act – laying down harmonised rules on fair access to and use of data. The aim is to remove barriers to consumers and businesses' access to data, in a context in which the volume of data generated by humans and machines is increasing exponentially and becoming a critical factor for innovation by businesses (e.g. algorithm training) and by public authorities (e.g. shaping of smart cities). The proposed ...

The 2014 Regulation on electronic identification and trust services for electronic transactions in the internal market (eIDAS Regulation or eIDAS) was the first digital identity legislation to provide the basis for cross-border electronic identification, authentication and website certification throughout the EU. Application of eIDAS has been mixed. However, the pandemic increased the need for such solutions to be put in place to access public and private services. On 3 June 2021, the Commission ...

As digital technologies have been increasingly permeating our lives, artificial intelligence (AI) has gradually made it onto the scene too, but without much fanfare. This once daunting prospect has become a part of our lives even in domains that do not seem to belong to a futurist world, such as cultural heritage and museums. The results are both promising and surprising: reconstructing a piece of art, completing an unfinished composition of a great musician, identifying the author of an ancient ...

The study argues in favour of the introduction of a digital euro because of its benefits for the public’s store of value and cashless payment options. It questions the assumption that caps on digital euro holdings would be necessary in the interest of financial stability and favours an approach that allows everyone unlimited access to digital euros.

This study assesses the first two ECB progress reports on the digital euro. It is socially desirable to have a digital euro. However, the envisaged design of the digital euro makes the use case for a digital euro from consumers’ point of view questionable, in part because it will offer less convenience than other, commercially provided, digital means of payment. This study lays out some desirable design features of a digital euro that can foster broad adoption.

Directive 2019/1151/EU on the use of digital tools and processes in company law was the first step towards digitalisation in the area of company law. The directive amended EU company law provisions to enable online formation, registration of branches and filing of documents for limited liability companies. Its purpose was to facilitate such processes and make them cost-effective for businesses, including for cross-border activities. The digitalisation of company law is one aspect of EU digital policy ...

This paper assesses the state of preparation for the possible launch of a digital euro. It focuses on the main relevant aspects: market impact, implications for banks, design and technical issues, monetary policy, financial stability, the role of fintech and Big Techs, international dimensions, privacy, and financial inclusion. On each, brief recommendations for the ECON Committee’s work are offered. The concluding judgment is broadly positive on the preparatory work but doubtful on the wisdom of ...

The European Parliament is due to vote in April on adopting a regulation on markets in crypto-assets (MiCA), following a provisional agreement on the proposal in trilogue negotiations. The regulation would establish harmonised rules for crypto-assets at EU level, thereby providing legal certainty for those crypto-assets not covered by existing EU legislation. By enhancing consumer and investor protection and financial stability, the regulation seeks to promote innovation and the use of crypto-assets ...

This study, commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the LIBE Committee, examines risks that contemporary social media - focusing in particular on the most widely-used platforms - present for democracy, the rule of law and fundamental rights. The study focuses on the governance of online content, provides an assessment of existing EU law and industry practices which address these risks, and evaluates potential opportunities ...

With the current pace of technological innovation, it is clear that the volume of data being exchanged is larger than ever and will only continue growing. The EU's ambitious connectivity targets are pushing policymakers to take a more forward-thinking approach to the telecoms sector. One question EU decision-makers must answer is whether the main digital players, who generate huge volumes of traffic and revenue using the EU's telecoms infrastructure, should contribute to the cost of network roll-out ...