The European Commission is drafting legislation pertaining to digital assets, particularly crypto-assets and blockchain fintech, according to reports. An article on the website crowdfundinsider.com notes that the European policymakers seek to set out terms that will be friendly to innovation in the burgeoning sector of digital assets. While legislation is expected to appear this month, the commission has sought comment from European Securities and Markets Authority and the European Banking Authority to determine how current financial services regulatory framework applies to crypto-assets. The European authorities are seeking to ready their regulations for the emergence of stablecoins, the name given to crypto-assets that tend to be based on fiat currency, which are expect to increase utilization of crypto-assets.
Fresnel Companies portfolio companies Torus Global, Emergent International Payment Systems, and Cipherium all work with digital assets. Torus Global links disparate transaction infrastructure through a unified rail system that creates a seamless worldwide network. Emergent International Payments Systems launched the suite of Brand Banking™ solutions specifically for unbanked and under-banked workers and their communities in Africa, the Middle East, and the Indian Ocean regions, using customized solutions to eliminate the resistance to brick-and-mortar banking within these key markets. Cipherium holds proprietary applications suited for blockchain, cryptocurrency, network security, and all point-to-point payments applications, including fraud prevention.