EU Digital Identity Wallet Pilot implementation
The European Commission will provide a prototype of a EU Digital Identity Wallet (EUDI) as set out in the proposed European Digital Identity Regulation. The proposal aims to enable European citizens and businesses to share identity data in a secure and convenient way. The prototype wallet serves to trial and inform the specifications developed by Member States, as the common EU Toolbox to implement the EUDI. It will be tested in a number of large scale pilots that cover different sectors and will be made available for re-use by contributors as open source. Meanwhile the Brownstone Institute points to some of the EUDI’s significant ethical and surveillance concerns that should be extensively discussed and debated by the public. [Read more at the European Commission]
ESMA publishes report on the DLT Pilot regime
The European Securities and Markets Authority (ESMA) published its Report on the distributed ledger technology (DLT) pilot regime. It provides guidance on certain technical elements and makes recommendations on compensatory measures on supervisory data to ensure a consistent application by DLT market infrastructures from the start of the regime. The report presents ESMA’s proposed way forward and concludes that there is no need to amend the regulatory technical standards (RTSs) on transparency and data reporting requirements before the DLT pilot starts applying in March 2023. [Read more at ESMA]
*For those interested in intra-day updates, check out my searchable Diigo Fintech developments database, which is also a good place to go to query for past developments: https://www.diigo.com/user/kiffmeister/ART.
Kiffmeister’s central bank digital currency monthly monitor
Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com
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