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6 Amendments of Burkhard BALZ related to 2016/2007(INI)

Amendment 4 #
Burkhard BALZ, Fulvio MARTUSCIELLO
Motion for a resolution
Recital A
A. whereas a universal applicable definition is not established yet, the EBA understands virtual currencies (VCs) are privately governeds a digital representations of value denominated in their own unit of account and referred to as private digital cash,that is neither issued by a central bank nor a public authority and which is used by natural or legal persons as a means of exchange and can be transferred, stored or traded electronically; also VCs are understood to be most notably based on distributed ledger technology (DLT), the technological basis for more than 600 VC schemes18 , the most prominent of which to date is bitcoin, with a market share of almost 90 % and a market value of the outstanding bitcoins of around EUR 5 billion19 ; __________________ 18 19http://www.bis.org/cpmi/publ/d137.pdf http://www.bis.org/cpmi/publ/d137.pdf 19 http://coinmarketcap.com/ http://coinmarketcap.com/
2016/03/30
Committee: ECON
Amendment 58 #
Burkhard BALZ
Motion for a resolution
Paragraph 3
3. Suggests that addressing these risks will require enhancing regulatory capacity so that a timely and proportionate response will reliably be forthcoming if and when the use of some DLT applications were to grow rapidly to become systemically relevanta sound legal framework for a timely and proportionate response;
2016/03/30
Committee: ECON
Amendment 104 #
Burkhard BALZ
Motion for a resolution
Paragraph 13
13. Calls for the creation of a horizontal 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;deleted
2016/03/30
Committee: ECON
Amendment 119 #
Burkhard BALZ, Fulvio MARTUSCIELLO
Motion for a resolution
Paragraph 14 – introductory part
14. AsksInsists that the Commission, on the basis of the fi carries out a valid and ings of TF DLT, to depth impact assessment when exploreing 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 theirdifferent options of how to address the possible potentials and risks of VCs and other DLT scheme:s;
2016/03/30
Committee: ECON
Amendment 123 #
Burkhard BALZ, Fulvio MARTUSCIELLO
Motion for a resolution
Paragraph 14 – point 1
1. if it is used on a large scale, is designed so as to avoid harming consumers and users;deleted
2016/03/30
Committee: ECON
Amendment 127 #
Burkhard BALZ, Fulvio MARTUSCIELLO
Motion for a resolution
Paragraph 14 – point 2
2. if it is systemic, is safe, is sound and has a dependable governance structure;deleted
2016/03/30
Committee: ECON
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