• Reasons for and objectives of the proposal
To be successful in a data driven economy that works for the people and businesses, Europe must strike a balance between the flow and wide use of data and preserving high privacy, security, safety and ethical standards. In the communication on a European strategy for data [Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions of 19 February 2020, A European strategy for data (COM (2020) 66 final).], the Commission set out how the EU should create an attractive policy environment so that, by 2030, its share of the data economy at least corresponds to its economic weight.
In finance, the Commission identified the promotion of data-driven finance as one of the priorities in its 2020 digital finance strategy [Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of th
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