LETS BUILD A EUROPE WHERE WEB3 CAN FLOURISH: CRYPTO COMPANIES SIGN AN OPEN LETTER TO EU REGULATORS

Last updated: June 19, 2025, 18:48 | Written by: Katie Haun

The future of the internet is being shaped right now, and Europe has the potential to be at the forefront. 'Let s build a Europe where Web3 can flourish' Crypto companies sign an open letter to EU regulators Subscribe to our Channel to learn more about cryptocurreImagine a digital landscape where individuals have more control over their data, where innovation thrives, and where European companies lead the way in the next generation of online technologies. 7.4M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, discussion, and analysis.This vision is at the heart of a recent initiative by forty prominent crypto companies who have collectively signed an open letter addressed to the European Parliament, the European Commission, and other key EU institutions. An open letter for the European Parliament signed by the 40 crypto companies! 📜 On March the 31st, two European Parliament Committees voted in favor of a regulatory update that could haveThis isn't just about crypto; it's about digital sovereignty and ensuring that Europe doesn't fall behind in the rapidly evolving Web3 space.These companies are advocating for common-sense regulation, standardized compliance procedures, and, most importantly, an innovation-friendly business environment that will allow Web3 to truly flourish on the continent.The goal is to create a robust ecosystem that empowers European businesses, protects users, and fosters groundbreaking technological advancements.The question is, can Europe seize this opportunity and become a global leader in the Web3 revolution?

The Call for Innovation-Friendly Regulation

The open letter underscores a critical need: Europe must adopt regulations that encourage innovation rather than stifle it. 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulationThe current regulatory landscape, while aiming to protect consumers and prevent illicit activities, can inadvertently create barriers to entry for startups and hinder the growth of existing Web3 businesses.This is not about advocating for a lack of regulation; rather, it’s a plea for a balanced approach that fosters both security and innovation. 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulatorsThe signatories of the letter believe that common-sense regulation, standardized compliance procedures, and a pro-innovation business climate are essential to building a thriving Web3 ecosystem in Europe.

What Does ""Common-Sense Regulation"" Mean?

Common-sense regulation, in the context of Web3, refers to a regulatory framework that is:

Clear and Predictable: Businesses need clear guidelines to understand what is expected of them. The EU wants to be a leader in blockchain and web3 technology, becoming a major innovator in blockchain and a home to significant platforms, applications, and companies.Ambiguous regulations create uncertainty and discourage investment.
Proportionate to Risk: Regulations should be tailored to the specific risks associated with different Web3 activities. Let s build a Europe where Web3 can flourish: Crypto companies sign an open letter to EU regulators Let s build a Europe where Web3 can flourish: Crypto companies sign an open letter to EU regulatorsA one-size-fits-all approach can be overly burdensome for low-risk applications.
Technology-Neutral: Regulations should focus on the underlying activity rather than the specific technology used. 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators Investing.com - Financial Markets Worldwide Open in AppThis prevents regulations from becoming obsolete as technology evolves.
Innovation-Friendly: Regulations should encourage experimentation and innovation. JPEX staff flee event as scandal hits, Mt. Gox woes, Diners Club crypto: Asia ExpressSandboxes and regulatory exemptions can allow businesses to test new ideas in a controlled environment.

Digital Sovereignty and the Web3 Opportunity

Behind the crypto assets market lies a much larger issue: digital sovereignty. Perhaps most importantly, Europe can lead the way in the transition from Web 2.0 s BigTech platform model to a vibrant European Web3 ecosystem. Want to know more about the European Blockchain Services Infrastructure (EBSI)?The open letter highlights the importance of Europe controlling its own digital destiny.In the current Web2 landscape, a handful of large tech companies, mostly based outside of Europe, dominate the internet.This concentration of power raises concerns about data privacy, censorship, and the potential for economic exploitation.Web3 offers an alternative: a decentralized internet where individuals own their data and have more control over their online experiences.By embracing Web3, Europe can strengthen its digital sovereignty and reduce its reliance on foreign tech giants.

The Importance of Data Ownership

One of the core principles of Web3 is the concept of data ownership.In the current Web2 model, users' data is typically controlled by the platforms they use. Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulation, standardized compliance procedures and an innovation-friendly business environment. An open letter on behalf of the international Web3 community and businesses across Europe, shared with Cointelegraph by one ofThis data can be used for targeted advertising, personalized content, and other purposes, often without the user's explicit consent.Web3 aims to shift this power dynamic by giving users more control over their data. 2.3M subscribers in the ethtrader community. Welcome to /r/EthTrader, a 100% community driven sub. Here you can discuss Ethereum news, memesThis can be achieved through various mechanisms, such as:

Decentralized Storage: Storing data on decentralized networks, rather than centralized servers, can make it more difficult for platforms to access and control user data.
Self-Sovereign Identity: Allowing users to create and manage their own digital identities, without relying on centralized identity providers, can give them more control over their online personas.
Data Privacy Technologies: Using technologies like zero-knowledge proofs and homomorphic encryption can allow users to share data without revealing the underlying information.

Standardized Compliance Procedures for a Level Playing Field

Navigating the regulatory landscape for crypto assets and Web3 technologies in Europe can be a complex and time-consuming process. We share this ambition and are convinced that France can, indeed, play a major role in this Internet, new generation. Behind the crypto assets market lies a major issue, that of digital sovereignty. That of our personal data and our companies' data: the digital sovereignty of France and Europe.Different member states may have different rules and interpretations, creating a fragmented market that is difficult for businesses to operate in.This is why the open letter calls for standardized compliance procedures across the EU.Standardized procedures would create a level playing field for all businesses, reduce compliance costs, and make it easier for companies to scale their operations across Europe. Industry representatives call the authorities not to go beyond the scope of the FATF Travel Rule recommendation. Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulation, standardized compliance procedures and an innovation-friendly business environment. An open letter onThis would encourage more innovation and investment in the Web3 space.

The Benefits of Harmonized Regulations

Harmonized regulations across the EU offer several key advantages:

Reduced Compliance Costs: Businesses would only need to comply with one set of rules, rather than multiple sets of national regulations.
Increased Legal Certainty: Clear and consistent regulations would provide businesses with greater clarity and predictability, reducing the risk of legal challenges.
Easier Cross-Border Operations: Businesses could more easily operate across different member states, expanding their market reach and customer base.
Attracting Investment: A harmonized regulatory framework would make Europe a more attractive destination for Web3 investment.

Europe as a Leader in Blockchain and Web3

The EU has expressed its ambition to be a leader in blockchain and Web3 technology, becoming a major innovator and a home to significant platforms, applications, and companies. The post 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators appeared first on CoinTelegraph. Bitcoin (COIN:BTCUSD) Historical Stock ChartThis vision is reflected in initiatives like the European Blockchain Services Infrastructure (EBSI), which aims to create a pan-European blockchain infrastructure for cross-border public services.By embracing Web3, Europe can not only strengthen its digital sovereignty but also create new economic opportunities and jobs.The transition from Web 2.0's BigTech platform model to a vibrant European Web3 ecosystem presents a unique opportunity for Europe to assert its leadership in the digital world.

Understanding the European Blockchain Services Infrastructure (EBSI)

The EBSI is a joint initiative of the European Commission and the European Blockchain Partnership (EBP). Here you can discuss Ethereum news, memes Skip to main content. Open menuIts goal is to deliver cross-border public services using blockchain technology.Some of the key use cases for EBSI include:

Digital Identity: Enabling citizens and businesses to securely identify themselves online and access public services.
Document Verification: Verifying the authenticity and integrity of documents, such as diplomas and certificates.
Supply Chain Traceability: Tracking the movement of goods across borders, improving transparency and efficiency.
Data Sharing: Facilitating the secure and transparent sharing of data between different organizations.

Bitcoin vs. Forty crypto companies called on the European Parliament, European Commission and other E.U. institutions to ensure common-sense crypto regulation.Marx: Two Competing Geopolitical Domino Theories

While seemingly unrelated, the research snippet mentioning ""Bitcoin vs. Bitcoin vs. Marx: Two Competing Geopolitical Domino Theories Marxism and Bitcoin have one thing in common, the idea that a radical change in the structure of society will happen iMarx"" highlights a fundamental tension in discussions about societal change.Both Marxism and Bitcoin, in their own ways, propose radical shifts in the structure of society.Marxism envisions a society where the means of production are collectively owned, while Bitcoin advocates for a decentralized, trustless financial system.The comparison underscores the potential for both ideologies to disrupt the existing order and reshape the geopolitical landscape. 16K subscribers in the CryptoCurrencyClassic community. The unofficial Wild Wild West of r/CryptoCurrency. CryptoCurrency Memes, News andThis highlights the underlying societal impact that embracing or rejecting Web3 technologies can have.

The Geopolitical Implications of Web3

The adoption of Web3 technologies has significant geopolitical implications.Countries that embrace Web3 and create a favorable regulatory environment may gain a competitive advantage in the global economy.They may attract talent, investment, and innovation, while countries that resist Web3 may fall behind. More on Crypto: 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators. Web3 can flourish:' Crypto companies signThe development of a strong European Web3 ecosystem is therefore not just about economic growth; it's also about ensuring Europe's competitiveness and influence in the 21st century.

Addressing Common Concerns About Web3

While the potential benefits of Web3 are significant, there are also valid concerns about its risks and challenges. 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators 'Let s build a Europe where Web3 can flourish:' CryptoSome common concerns include:

Security Risks: Smart contracts and blockchain applications can be vulnerable to hacks and exploits.
Scalability Challenges: Some blockchain networks struggle to handle high transaction volumes.
Environmental Concerns: Some blockchain technologies, like Proof-of-Work, consume a significant amount of energy.
Regulatory Uncertainty: The regulatory landscape for Web3 is still evolving, creating uncertainty for businesses.

Addressing these concerns is crucial for building a sustainable and responsible Web3 ecosystem.This requires a multi-faceted approach that involves technological innovation, regulatory clarity, and industry collaboration.

Mitigating Security Risks in Web3

To mitigate security risks in Web3, developers need to follow best practices for secure coding and smart contract development.This includes:

Auditing Code: Regularly auditing smart contracts to identify and fix vulnerabilities.
Using Formal Verification: Using formal verification techniques to mathematically prove the correctness of smart contracts.
Implementing Security Best Practices: Following established security best practices, such as the principle of least privilege.
Bug Bounty Programs: Offering rewards to individuals who report security vulnerabilities.

The Role of the CryptoCurrency and EthTrader Communities

The online communities surrounding cryptocurrencies, such as the 7.4 million-member CryptoCurrency community and the 2.3 million-member EthTrader community, play a crucial role in the development and adoption of Web3. 你的Web3信息官. 打开APP 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulators . Xangle ｜ 5:57These communities serve as forums for discussion, analysis, and news sharing.They also provide a platform for developers, entrepreneurs, and users to connect and collaborate.The open letter highlights the importance of engaging with these communities in the development of Web3 regulations and policies.These are places where people are learning and forming their own views on Web3.

Engaging with the Web3 Community

To effectively engage with the Web3 community, regulators and policymakers should:

Attend Industry Events: Participate in conferences, meetups, and hackathons to learn about the latest developments in Web3.
Consult with Experts: Seek input from experts in the Web3 space, including developers, researchers, and entrepreneurs.
Host Public Forums: Organize public forums to discuss Web3 regulations and policies and gather feedback from the community.
Be Transparent: Communicate openly and transparently about the rationale behind Web3 regulations and policies.

Conclusion: Seizing the Web3 Opportunity for Europe

The open letter signed by forty crypto companies is a clear call to action: Europe must embrace Web3 and create a regulatory environment that allows it to flourish. Industry representatives call the authorities not to go beyond the scope of the FATF Travel Rule recommendation. Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal E.U. institutions with a call to ensure common-sense regulation, standardized compliance procedures, and an innovation-friendly business environment.The stakes are high. 2.8K subscribers in the cryptopricesalerts community. Our trackers will post any relevant info about cryptos. Wanna see more? See you onFailure to do so risks ceding leadership in the digital economy to other regions, undermining Europe's digital sovereignty, and missing out on the significant economic and social benefits that Web3 can offer.By adopting common-sense regulation, standardizing compliance procedures, and fostering an innovation-friendly business environment, Europe can position itself as a global leader in Web3, creating a vibrant ecosystem that empowers European businesses, protects users, and drives groundbreaking technological advancements. Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal E.U. institutions with a call to ensure common-sense regulation, standardized compliance procedures, and an innovation-friendly business environment.Key takeaways include the need for digital sovereignty through embracing decentralized technologies, clear and proportionate regulations that don’t stifle innovation, and the power of community involvement in shaping the future of Web3. BTCUSD Bitcoin 'Let s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulatorsNow is the time for EU regulators to listen to the voices of the Web3 community and work together to build a better digital future for Europe.What steps will YOU take to learn more and advocate for a thriving Web3 ecosystem in Europe? Forty crypto companies cosigned an open letter to the European Parliament, European Commission and other principal EU institutions with a call to ensure common-sense regulation, standardized compliance procedures and an innovation-friendly business environment.Explore resources like the EBSI and participate in online discussions to stay informed and contribute to this important conversation.