Blockchain technology offers vast benefits across many sectors, but applications face significant hurdles when dealing with regulatory frameworks that are not comprehensive at best, or outright unclear at worst. The European Blockchain Regulatory Sandbox, initiated by the European Commission, seeks to bridge this gap. This week, we go in detail into the objectives and accomplishments of the sandbox, explore its unique approach to facilitating discussions between regulators and SMEs, and learn about its focus on building infrastructure around blockchain technology, rather than just the technology itself.

Our nest welcomes Helen Köpman, Deputy Head of Unit, Platforms policy and enforcement - Technological and economic assessment at the European Commission’s department for technology, together with Marjolein Geus, partner at Bird & Bird (the law firm leading the project’s operations), and Yuji Develle from OXYGY Consulting (Bird & Bird’s consulting arm). The three wise owls walks us through the criteria used to select the first cohort of innovative projects, their diverse spread across industries and company sizes, and how the pan-European sandbox aims to address the complexities identified by national regulations before the new Markets in Crypto Assets (MiCA) regulation comes into force in the EU. They also explain how the project fosters cross-sector learning by focusing on sharing best practices and lessons learned – potentially having an impact on the way future regulations beyond blockchain.