Activities of Petr JEŽEK related to 2016/2007(INI)
Plenary speeches (1)
Virtual currencies (A8-0168/2016 - Jakob von Weizsäcker)
Shadow reports (1)
REPORT on virtual currencies PDF (328 KB) DOC (127 KB)
Amendments (16)
Amendment 23 #
Motion for a resolution
Paragraph 1 – point a
Paragraph 1 – point a
(a) dramatically lowering transaction costs for payments and transfer of funds worldwide, quite possibly to well below 1%, compared to 2% - 4% for traditional online payment systems21 , and to more than 7 % on average for the cross-border transfer of remittances22, thencerefore, in the most optimistic estimate, potentially reducing global total costs for remittances by up to EUR 20 billion; __________________ 21 https://www.eba.europa.eu/documents/101 80/657547/EBA-Op-2014- 08+Opinion+on+Virtual+Currencies.pdf 22 https://remittanceprices.worldbank.org/site s/default/files/rpw_report_december_2015. pdf
Amendment 64 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Acknowledges the potential of DLT in assisting governments to reduce money laundering, fraud and corruption;
Amendment 66 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Further notes that DLT could be used to increase data sharing, transparency and trust not only between government and citizens, but also between private sector actors and clients;
Amendment 67 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Recognises the potential of DLT well beyond the financial sector, including the potential of smart contracts, digital signatures and heightened data protection;
Amendment 81 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a proportionate regulatory approach so as not to stifle innovationnor add superfluous costs to innovation and development at an early stage, while taking seriously the regulatory challenges that the widespread use of VCs and DLT might pose;
Amendment 92 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the Commission’s suggestions for including VC exchange platforms in the AMLD; recommends further extending the scope to custodian wallet providers if and when the use of the VC(s) in question were to become so prevalent that users would no longer routinely need to exchange their VCs into legal tender; highlights that amendments to the AMLD should be targeted and justified based on a full analysis of the risks of VCs, such the potential of financing terrorist activities;
Amendment 97 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Recommends a review ofn analysis of whether any amendments should be made to the EU legislation on payments, including PSD and EMD, in light of the new possibilities afforded by new technological developments including VCs and DLT, with a view to further enhancing competition and lowering transaction costs, including by means of enhanced interoperability and possibly also via the promotion of a universal and non- proprietary electronic wallet;
Amendment 106 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for the creation of a hHorizontal Task Force DLT (TF DLT) under the leadership of the Commission, in order to provide the necessary technical and regulatory expertise to support the relevant public actors, at both EU and Member State level, in their efforts to ensure a timely and well-informed response to the new opportunities and challenges arising with the introduction of DLT applications; observes that the potential of DLT use and the present investment dynamics justify TF DLT being equipped with a proper budget and being staffed with regulators and external technical experts dedicated cross- sectorally to the monitoring of DLT-based applications, identifying standards for best practice, and, where appropriate, recommending regulatory measures and addressing potentially arising consumer protection issues and systemic challenges;, led by the Commission and staffed with regulators and technical experts from business and academia; This TF DLT should have the following mandate:
Amendment 107 #
Motion for a resolution
Paragraph 13 – point i (new)
Paragraph 13 – point i (new)
(i) to support relevant public actors, at both EU and Member State level, in their efforts to ensure a timely and well- informed response to the new opportunities and challenges arising with the introduction of DLT applications;
Amendment 108 #
Motion for a resolution
Paragraph 13 – point ii (new)
Paragraph 13 – point ii (new)
(ii) to closely monitor the development and usage of DLT systems in the EU and to follow developments worldwide;
Amendment 109 #
Motion for a resolution
Paragraph 13 – point iii (new)
Paragraph 13 – point iii (new)
(iii) to assess current European regulation which may need to be updated to reflect the development of DLT;
Amendment 110 #
Motion for a resolution
Paragraph 13 – point iv (new)
Paragraph 13 – point iv (new)
(iv) to propose a roadmap for future steps to be taken on a European level, and recommendations for action on a national level;
Amendment 111 #
Motion for a resolution
Paragraph 13 – point v (new)
Paragraph 13 – point v (new)
(v) to fully analyse the benefits and risks of the use of DLT to tackle money laundering, terrorism financing and fraud;
Amendment 112 #
Motion for a resolution
Paragraph 13 – point vi (new)
Paragraph 13 – point vi (new)
(vi) to consider how DLT may affect consumer and data protection;
Amendment 121 #
Motion for a resolution
Paragraph 14 – introductory part
Paragraph 14 – introductory part
14. Asks the Commission, on the basis of the findings and proposed roadmap of TF DLT, to explore the need for a legislative proposal requiring VCs and other DLT scheme actors which do not yet have to comply with suitable standards based on existing regulation to demonstrate whether their scheme:
Amendment 126 #
Motion for a resolution
Paragraph 14 – point 1
Paragraph 14 – point 1
1. if it is used on a large scale, is designed so as to avoid harmingmaximise the benefits to consumers and users;