Digital finance outreach 2020

Attorney Tereza Shishkova from “Dobrev & Luytskanov” Law firm attended the event Digital Finance Outreach 2020, organized by the Bulgarian Fintech Association (BFA), in collaboration with the European Commission (EC).
In March the EC started the Digital Finance Outreach 2020 initiative regarding the preparation of the new EU Digital Finance Strategy – Fintech Action Plan. In this relation, the Member States organize national events on which to present its local point of view about the present and future Digital Finance’s legislation.
In Bulgaria, such event was held on 16th of June 2020 in a form of an online public discussion, organized by the BFA, in collaboration with the EC. Participants were representatives of the public and private sectors of the Fintech ecosystem in Bulgaria, including Fintech companies, bank and non-bank financial institutions, regulators and other stakeholders.
The main purpose of the event were to share the best practices and the challenges of the Fintech community and to present different points of view concerning the development and the future of the Digital Finances on the territory of the EU.
As main issues discussed in relation to the regulatory framework, can be outlined the necessity of a regulatory sandbox and of a dialogue between the public and the private sector.
It is provided that the BFA is going to come up with an official statement to the European Commission on the new EU Digital Finance strategy, which will sum up all key points discussed during the event.