10 Amendments of Alfred SANT related to 2020/2034(INL)
Amendment 144 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Considers in this respect that FinTech should be considered as an essential and effective tool for European Small and Medium enterprises, able to provide real-time and fast solutions adapted to their financing needs; believes that FinTech has the potential to help closing the SME financing gap;
Amendment 145 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Considers in this respect that FinTech should be considered as an essential and effective tool for European Small and Medium enterprises, able to provide real-time and fast solutions adapted to their financing needs; believes that FinTech has the potential to help closing the SME financing gap;
Amendment 165 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Points out that Union level measures should not stifle opportunities for businesses to grow and develop within the Union so that the set framework should in no way serve as a barrier to entry for innovative openings especially by young entrepreneurs in the digital sector;
Amendment 196 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that developing a pan- European taxonomy for crypto-assets is desirable as a step towards fostering a common understanding, facilitating collaboration across jurisdictions and providing greater regulatory certainty for market participants engaged in cross border activity; recommends taking into account the importance of international cooperation and global initiatives as regards frameworks for crypto-assets, bearing in mind in particular their borderless nature; cautions, however, that developing an open-ended taxonomy template may be more appropriate for this evolving market segment; believes, however, that there is no one size fits all solution when it comes to legal qualification of crypto-assets and therefore a framework which allows for monitoring, adaption and product intervention by EU supervisors is important;
Amendment 215 #
10a. Expresses concern about the serious carbon footprint attached to the use and dissemination of crypto-assets; calls on the Commission to take this into account in any forthcoming regulatory initiative, having in mind the EU’s commitment to the Sustainable Development Goals and to the necessary transition to a climate-neutral society by 2050 at the latest;
Amendment 228 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Points out that applying existing regulations to previously unregulated crypto-assets will be necessary, as will creating bespoke regulatory regimes for evolving crypto-asset activities, such as initial coin offerings; Stresses that initial coin offerings have potential in funding SMEs, innovative start-ups and scale-ups, can accelerate technology transfer, and can be an essential part of the Capital Markets Union;
Amendment 233 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Calls on the Commission to assess the advantages of proposing legislative framework for initial coin offerings and initial exchange offerings to increase legal certainty, investor and consumer protection, raise warnings, and reduce risks stemming from asymmetric information, fraudulent behaviour and illegal activities; Stresses however that wider regulation of crypto-assets and related activities may have trade-offs, such as risking legitimising crypto-assets and encouraging wider adoption; Highlights therefore that it will also require further supervisory resources and in-house technological know-how for supervisors;
Amendment 236 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 303 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Requests, in this regard, that the Commission examines how to ensure that digital finance entities can access on an equitable basis relevant and useful data to help ensure that innovative FinTech businesses can grow within the Union and beyond; calls on the Commission to monitor the offering of financial services by “BigTech” firms, and also how the competitive advantages inherent to these operators may distort competition in the market, harm the interests of consumers and innovation;
Amendment 331 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls for effective oversight of ’big data’ analytics in a way that addresses the opacity of models while ensuring that there is sufficient access to relevant and quality data; emphasises the need for much greater algorithmic accountability and transparency with regard to data processing and analytics as an essential tool to guarantee that the individual is appropriately informed about the processing of their personal data; calls on the Commission to assess which initiatives, legislative and non-legislative, can be taken in this regard;