L 45/1432
Official Journal of the European Union
EN
24.2.2022
COMMISSION PILOT PROJECTS
CHAPTER PP 03 — SINGLE MARKET (cont'd) PP 03 22
2022
PP 03 22 01
Pilot project — Embedded supervision of decentralised financial institutions and activities Figures (Differentiated appropriations) Appropriations 2022 Commitments
Appropriations 2021
Payments
250 000
Commitments
Payments
Outturn 2020 Commitments
Payments
62 500
Remarks The Parliament is currently working on the Commission legislative proposals on crypto assets and the Distributed Ledger Technology (DLT) pilot to create a new regulatory framework for these new types of assets which hold a lot of promise to unlock new sources of financing for SMEs and give consumers additional choice and opportunities.
In that context, the challenges of regulating and supervising the next wave of DLT based technologies, decentralised finance (Defi), have been raised, as these applications often do not have an identifiable issuer.
However, this could potentially be addressed by so called embedded supervision (see Raphael Auer, Embedded supervision: how to build regulation into blockchain finance, BIS Working Papers | No 811 | 16 September 2019).
In order to inform and prepare the application of the new legislative instruments to decentralised finance, the purpose of this pilot project is to test develop an experimental pilot project for technical solution to allow supervisors to engage embedded supervision of Defi applications by directly linking supervisory data applications to Defi applications.
The pilot project will be implemented by the Commission in close cooperation with the European Forum of Innovation Facilitators, which brings together supervisory sandboxes and innovation hubs from all Member States.
PP 03 22 02
Pilot project — Supporting European ecotourism in the context of the crisis created by COVID-19 Figures (Differentiated appropriations) Appropriations 2022 Commitments
975 500
Appropriations 2021
Payments
Commitments
Payments
Outturn 2020 Commitments
Payments
243 875
Remarks Ecotourism involves participation in the conservation of the natural areas visited, providing constructive ways for good management and conservation of these natural areas.
It offers opportunities for nature experiences that provide a better understanding of this environment and the opportunity to discover and protect nature, culture and local traditions by tourists.
Ecotourism and traditional handicraft products attract those tourists who want to interact with the natural environment and broaden their level of knowledge, understanding of local values.
Information campaigns should encourage tourists to take into account the importance of ecotourism, environment, water and forests and celebrate operators with best planning methods in terms of nature conservation and protection as well as sustainable development.
In order to support the further development of European ecotourism, to make European rural areas more attractive to tourists, such campaigns need to be financially supported.