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Gli ordinamenti
giuridici alla prova di
criptoassets, blockchain
e smart contracts
Una breve analisi
PROGETTO CLUSTER SARDCOIN
Aula Magna di Ingegneria
22 OTTOBRE 2019
THE EIGHT GUIDING PRINCIPLES
1) Craft simple yet usable definitions of the technology.
A simple but potentially quite useful first step would be for policy makers to clearly
define what blockchains and smart contracts are under the law at the European level
in order to have a shared definition for EU and Member State regulators.
2) Communicate legal interpretations as broadly as possible.
When blockchain is added into a law, or when a binding or highly certain
interpretation of the law with regards to blockchain is reached, we think it worthwhile
for authorities to make an extra effort to communicate this to the wider community.
THE EIGHT GUIDING PRINCIPLES
3) Choose the right regulatory approaches for the question at hand.
When it comes to regulating new technologies like blockchain, regulators can choose
from three basic approaches, each of which has its own advantages and
disadvantages.
4) Harmonise the law and interpretations of it.
Whatever approach individual regulators take, we think it crucial that blockchain and
smart contract regulation be as harmonised as possible throughout the EU.
5) Help policy makers develop an understanding of the technology.
Getting it right will require the respective authorities and the full ecosystem to
understand this new technology and what can (and
cannot) be achieved with it.
THE EIGHT GUIDING PRINCIPLES
6) Work on high-impact use cases first.
In our opinion that would encompass the regulatory questions around digital assets
as well as bringing clarity to blockchain and the GDPR.
7) Closely monitor developments in less mature use cases and encourage self-
regulation.
As regulators know all too well, intervening too early in novel use cases can be
counterproductive.
8) Make use of blockchain as a regulatory tool.
Last but not least, we think an excellent way for regulators to help monitor and
regulate the industry is to get involved themselves. For example, regulators could
plug themselves into new blockchain-based platforms as they come online,
unleashing new opportunities to improve the efficacy but also efficiency of their
operations
Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts
Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts
Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts
Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts

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Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts

  • 1. Gli ordinamenti giuridici alla prova di criptoassets, blockchain e smart contracts Una breve analisi PROGETTO CLUSTER SARDCOIN Aula Magna di Ingegneria 22 OTTOBRE 2019
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  • 7. THE EIGHT GUIDING PRINCIPLES 1) Craft simple yet usable definitions of the technology. A simple but potentially quite useful first step would be for policy makers to clearly define what blockchains and smart contracts are under the law at the European level in order to have a shared definition for EU and Member State regulators. 2) Communicate legal interpretations as broadly as possible. When blockchain is added into a law, or when a binding or highly certain interpretation of the law with regards to blockchain is reached, we think it worthwhile for authorities to make an extra effort to communicate this to the wider community.
  • 8. THE EIGHT GUIDING PRINCIPLES 3) Choose the right regulatory approaches for the question at hand. When it comes to regulating new technologies like blockchain, regulators can choose from three basic approaches, each of which has its own advantages and disadvantages. 4) Harmonise the law and interpretations of it. Whatever approach individual regulators take, we think it crucial that blockchain and smart contract regulation be as harmonised as possible throughout the EU. 5) Help policy makers develop an understanding of the technology. Getting it right will require the respective authorities and the full ecosystem to understand this new technology and what can (and cannot) be achieved with it.
  • 9. THE EIGHT GUIDING PRINCIPLES 6) Work on high-impact use cases first. In our opinion that would encompass the regulatory questions around digital assets as well as bringing clarity to blockchain and the GDPR. 7) Closely monitor developments in less mature use cases and encourage self- regulation. As regulators know all too well, intervening too early in novel use cases can be counterproductive. 8) Make use of blockchain as a regulatory tool. Last but not least, we think an excellent way for regulators to help monitor and regulate the industry is to get involved themselves. For example, regulators could plug themselves into new blockchain-based platforms as they come online, unleashing new opportunities to improve the efficacy but also efficiency of their operations