# kaal:claim:3002908-010

**Claim.** ESMA judged a regulatory response to blockchain premature because technological innovation was still evolving and blockchain's practical applications were still rather limited.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- ESMA position as of the debate launched in June 2016

**Source quote.**

> Because of the on- going evolution of technological innovation and blockchain's still rather limited practical applications, ESMA considered a regulatory response to the evolving technology premature.

**From.** Wulf A. Kaal, Marco Dell'Erba, *Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and* (2017), III.1. European Union, page 13

**Cite as.** Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**Verify.** sha256 of source PDF `06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Blockchain%20Innovation%20in%20Private%20Investment%20Funds%20-%20A%20Comparative%20Analysis%20of%20the%20United%20States%20and.pdf

**Topics.** blockchain

**Keywords.** esma, european-union, regulatory-timing, blockchain

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