Digital Finance in Europe: Law, Regulation, and Governance

book: Digital Finance in Europe: Law, Regulation, and Governance

Open Access Published by De Gruyter 2022

Digital Finance in Europe: Law, Regulation, and Governance

Edited by: Emilios Avgouleas and Heikki Marjosola

Volume 5 in the series European Company And Financial Law Review - Special Volume

https://doi.org/10.1515/9783110749472

Overview
Contents

About this book

Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle　of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.

first complete academic analysis of the digitisation of EU finance and its regulation

Interdisciplinary (law, economics, and ethics) analysis of the EU Digital Finance Package

offers solid proposals for reform of EU financial services law

Author information

Heikki Marjosola, University of Helsinki; Emilios Avgouleas, University of Edinburgh.

Topics

Frontmatter Open Access Download PDF	I
Editorial Open Access Download PDF	V
Table of Contents Emilios Open Access Download PDF	XI
Governing the Digital Finance Value-Chain in the EU: MIFID II, the Digital Package, and the Large Gaps between! Emilios Avgouleas and Alexandros Seretakis Open Access Download PDF	1
Marketplace Lending as a New Means of Raising Capital in the Internal Market: True Disintermediation or Reintermediation? Eugenia Macchiavello and Antonella Sciarrone Alibrandi Open Access Download PDF	37
Digital Offerings and Mandatory Disclosure: A Market-Based Critique of MiCA Paolo Giudici and Guido Ferrarini Open Access Download PDF	87
Algorithmic Trading and the Limits of Securities Regulation Carsten Gerner-Beuerle Open Access Download PDF	109
Responsible AI Credit Scoring – A Lesson from Upstart.com Katja Langenbucher and Patrick Corcoran Open Access Download PDF	141
Building a Single Market for Sustainable Finance in the EU-Mixed Implications and the Missing Link of Digitalisation Iris H-Y Chiu Open Access Download PDF	181
Digital Financial Markets and (Europe’s) Private Law – A Case for Regulatory Competition? Rainer Kulms Open Access Download PDF	213
Security Tokens and the Future of EU Securities Law: Rethinking the Harmonisation Project Heikki Marjosola Open Access Download PDF	253

(Deutsch)

Language: English
Publisher: De Gruyter
Audience: Academics, practitioners, students, and policymakers in finance law.
Pages
- Front matter: 11
- Main content: 280
Illustrations
- Coloured Illustrations: 3

eBook

Published: December 20, 2021
ISBN: 9783110749472

Hardcover

Published: January 31, 2022
ISBN: 9783110749410