OXYGY and Bird & Bird are leading an innovative 3-year regulatory sandbox with the European Commission, creating an unprecedented platform for regulators and supervisory authorities, and blockchain innovators to increase legal certainty for blockchain solutions in the European Economic Area.
Success Stories
Shaping the Future of Blockchain: Building Europe’s First Multi-Jurisdictional Regulatory Sandbox
Challenge
Blockchain technology is rapidly transforming industries but its distinctive characteristics, such as its decentralized nature, pose unique regulatory challenges. To support the development of fit-for-purpose regulatory frameworks, the European Commission initiated the European Blockchain Regulatory Sandbox – a space where use case owners could voice their concerns, and regulatory gaps could be identified and discussed. This sandbox was designed to bridge national and EU-level regulatory authorities with blockchain innovators, fostering dialogue and setting regulatory best practices for future applications. However, managing such a broad, multi-stakeholder project required deep expertise, strategic coordination, and a robust project structure.
Implementation
OXYGY, together with Bird & Bird, structured and designed the sandbox, as well as brought it to life by engaging with regulatory authorities, blockchain innovators, and industry leaders. By creating a clear project framework, OXYGY ensured seamless collaboration which balances productive discussion with security and confidentiality. Through targeted multi-channel outreach and marketing campaigns, we attracted participants from across Europe, representing a broad spectrum of sectors and regions, from SMEs to large organizations.
Bird & Bird provided cross-regional legal expertise, identifying the complex regulatory challenges that use cases are facing in areas ranging from cyber security, data protection and digital identity regulation, to customs regulations and CO2 emissions. Blockchain experts Warren Brandeis and a panel of distinguished blockchain academic experts were responsible for evaluating applications and selecting participants for the discussions. A secure IT platform was established to foster collaboration and trust, enabling participants to share insights and drive meaningful discussions.
This joint effort turned the sandbox into a thriving hub of innovation, bridging regulatory gaps and shaping Europe’s approach to Blockchain governance. Together, OXYGY and Bird & Bird are helping set the standard for blockchain regulatory best practices on an international scale.
Achievements
The sandbox has already made substantial progress, with 60 diverse use cases selected. These use cases are helping to generate valuable cross-sector insights, shared at major Blockchain events and conferences, which is increasing the sandbox’s visibility and influence. OXYGY remained focused on fostering collaboration and dialogue, paving the way for a structured regulatory environment that will support Blockchain’s growth in Europe. This initiative is positioning Europe as a leader in responsible Blockchain adoption, setting the stage for future global standards.
Voices from the project
Our clients are always looking for ways to make the most of emerging technologies like Blockchain in furthering their business objectives. Thanks to this regulatory sandbox project we are making it easier for clients to pave the road to adopting and running a decentralized business while also remaining compliant.
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