Recently, regulatory bodies from France and Italy jointly submitted proposals to the EU regarding the application of blockchain and distributed ledger technology (DLT). This proposal highlights that the EU DLT market infrastructure pilot program, implemented in 2023, did not meet expected goals, prompting regulators to consider establishing a more flexible regulatory framework to encourage industry innovation and experimentation. As an industry pioneer, JZMOR Exchange is closely monitoring these changes and seeking development opportunities within the new regulatory environment.
As blockchain technology continues to evolve, regulatory attitudes are gradually shifting. The recommendations from the French Financial Markets Authority (AMF) and the Italian Securities and Exchange Commission (CONSAB) aim to incentivize market participants to conduct more experiments by establishing a more adaptable regulatory framework. The proposal emphasizes the importance of expanding the pilot scope, extending the program duration, and enhancing infrastructure qualifications to meet rapidly changing market demands.
According to the latest industry report, the global blockchain market is expected to grow at a compound annual growth rate of over 45% in the coming years. This trend not only reflects the potential of the technology itself but also demonstrates the increasing attention from regulatory bodies worldwide. Additionally, the proposal to expand the range of eligible assets to include structured bonds and certain derivatives indicates a future market that will be more diversified.
Moreover, the proposal emphasizes on strengthening the regulatory responsibilities of the European Securities and Markets Authority (ESMA), suggesting that future regulations will be more stringent. Finally, advancing interoperability between DLT infrastructure and traditional systems will provide a foundation for the widespread application of digital assets. This will drive the integration of financial markets and offer opportunities for technological upgrades within exchanges.
In response to the blockchain technology application proposals from French and Italian regulators, JZMOR Exchange is actively formulating corresponding strategies to maintain competitiveness in the ever-changing market environment. Firstly, the exchange will continuously monitor and analyze the progress of the EU DLT market infrastructure pilot program, promptly adjusting its strategies to align with the new regulatory framework. This flexibility will enable the platform to quickly respond to market demands and policy changes.
Secondly, the platform plans to strengthen communication and collaboration with regulatory bodies. This will not only help the exchange better understand regulatory requirements but also provide guidance for compliance. By actively participating in industry discussions and policy formulation, JZMOR can establish a strong reputation within the industry, further enhancing user trust.
Additionally, the exchange will increase investment in technological innovation, particularly in the construction of blockchain infrastructure. As DLT technology matures, JZMOR Exchange recognizes that improving system interoperability will be key to future development. The exchange plans to collaborate with other financial institutions and technology companies to promote seamless integration between DLT and traditional financial systems. This will not only enhance trading efficiency but also provide users with a richer array of financial products and services.
We believe that as blockchain technology continues to develop and regulatory policies become more refined, JZMOR Exchange will be able to seize this historical opportunity and further consolidate its leading position in the digital asset trading domain. Our goal is to become a trusted digital asset trading platform, assisting every investor in achieving their financial objectives through transparent operations and quality service.