Introduction on digital finance

Abstract

In order to address the challenges posed by digital finance, the European Commission introduced the Digital Finance package on 24 September 2020. This package aims to create a competitive EU financial industry which gives consumers access to innovative financial products, while ensuring consumer protection and financial stability. The package contains inter alia three regulation proposals: a pilot regime for market infrastructures based on distributed ledger technology (DLT pilot regime), a proposal relating to markets in crypto-assets (MiCA) and, finally, a proposal on digital operational resilience (DORA). The DLT and DORA Regulations were adopted in 2022, whereas the MiCA Regulation is expected to be adopted in 2023.