Pan-European Passporting

Definition ∞ Pan-European passporting is a regulatory mechanism that allows financial firms authorized in one European Union member state to offer their services across all other member states without needing separate authorizations. This principle facilitates a single market for financial services within the EU. It reduces administrative burdens and promotes cross-border business.
Context ∞ The concept of pan-European passporting is highly relevant to discussions surrounding digital asset regulation within the European Union. Regulators are considering how to adapt or extend existing passporting frameworks to accommodate crypto-asset service providers. The goal is to create a harmonized regulatory environment that supports innovation while ensuring consumer protection and market stability across the bloc.