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New EU digital finance strategy and proposals – September 2020

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Regnard-Weinrabe Ben
Ben Regnard-Weinrabe

Partner

London

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Etay Katz

Partner

London

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Van Elsen Filip
Filip Van Elsen

Partner

Antwerp

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Henri Wagner

Partner

Luxembourg

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Johnstone Nikki
Nikki Johnstone

Senior Associate

London

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29 September 2020

The European Commission yesterday adopted a new digital finance package, made up of a digital finance strategy, a retail payments strategy, legislative proposals for an EU regulatory framework on crypto-assets, and proposals for an EU regulatory framework on digital operational resilience.
 

The finance package was formed on basis of a mission statement that, “The future of finance is digital. We saw during the lockdown how people were able to get access to financial services thanks to digital technologies such as online banking and fintech solutions. Technology has much more to offer consumers and businesses and we should embrace the digital transformation proactively, while mitigating any potential risks. That's what today's package aims to do. An innovative digital single market for finance will benefit Europeans and will be key to Europe's economic recovery by offering better financial products for consumers and opening up new funding channels for companies.”

If you have any questions, please contact: Ben Rengard-Weinrabe, Etay Katz, Filip van Elsen, Henri Wagner or Nikki Johnstone.