6 Amendments of Pina PICIERNO related to 2016/2007(INI)
Amendment 5 #
Draft opinion
Paragraph 2
Paragraph 2
2. Recognises the potential benefits associated with VCs for consumers, businesses, charities and the economy at large, which include greater speed and efficiency and reduced costs in making payments and transfers, in particular across borders, and potentially promoting financial inclusion and facilitating the access to funding and financial resources for the business sector and the SMEs;
Amendment 9 #
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Stresses the importance of developing an European level playing field to allow unleashing and fully developing the valuable potential of Distributed Ledger Technologies (DLT), that can be used in numerous innovative fields and in a wide range of industries and services, such as "smart contracts", crypto-equity crowdfunding and dispute mediation services, in particular in the financial and juridical sectors; moreover, encourages public bodies to evaluate the benefits and explore the possibility of applying such innovative technologies to other fields, with the scope of providing better, more rapid and more efficient services to the EU citizens;
Amendment 10 #
Draft opinion
Paragraph 3
Paragraph 3
3. AcknowledgStresses that VCs could present risks in relation to criminal activities, such as financing terrorism, money laundering and, tax fraud; notes, however that there is little evidence that VCs have been widely used as a payment vehicle for criminal activity and tax evasion, as well as other potential challenges which might be caused by the pseudo-anonymity of VCs; indeed, asks the Commission to evaluate and consider the necessity of extending the scope of the current legislation, such as the AMLD, thus including VC exchange platforms and "wallet providers", with the purpose of preventing and tackling the above-mentioned risks;
Amendment 23 #
Draft opinion
Paragraph 5
Paragraph 5
5. Points out that it is difficult toRecognizes the difficulties and uncertainties in predicting how VCs might develop and to; calls on the Commission for a coherent and comprehensive strategy at the EU level, with the aim of identifying any potential specific longer-term policy responses while not stifling innovation, to avoid the fragmentation and distortion of the Single Market, and to prevent the risks of the VCs, while not stifling innovation; suggests the creation of a horizontal Task Force DLT (TF DLT), under the leadership of the Commission, supporting the relevant public and private actors while evaluating and analysing all the potential evolution of DLT application and VCs, with the final scope of ensuring a timely and well- informed response at the EU level;
Amendment 37 #
Draft opinion
Paragraph 7
Paragraph 7
7. Stresses the importance of consumer awareness when using VCs while noting the growing use of VC micropayments foand transparency when using VCs; calls on the Commission, after conline purchases of goods; calls on the VC industry, in cooperation with the Commission and the Member States, to develop voluntary standards and to address the opportunities and challenges of VCs for consumers with the aim ofsulting the Member States and the VC industry, to develop specific EU guidelines with the aim of guaranteeing that a correct, clear and complete information is provided for existing and future VC users, to allow them to make a fully informed choice, thus enhancing the transparency of VC schemes for consumers in terms of how they are organised and operated and how they distinguish themselves from regulated and supervised payment systems,; in terms of consumer protection, in order to allow existing and future VC users to makeparticular, underlines that the consumers and users, before using VCs, shall be informed about the high volatility and informed choicstability of their value.
Amendment 41 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Asks the Commission to ensure that an adequate level of safeguards and effective remedies are in place for consumers who might face some of the risks linked to the use of VCs, such as hacking, malfunctioning of the software/hardware, scams and fraudulent schemes; calls the Commission to consider the possibility to set up specific, concrete and effective measures at the EU level in order to ensure the users are fully protected and safeguarded in relation to these risks.