EU Backs European Business Wallets

The European Parliament has taken an important step towards giving European businesses something that citizens are already beginning to acquire – a legally recognised digital identity that can be used across the European Union.

On 10 September, the Parliament's Industry, Research and Energy Committee adopted its position on the proposed European Business Wallet (EBW) Regulation. MEPs also approved opening negotiations with the Council, which agreed its own negotiating position in June.

The regulation is therefore not yet final, but the political direction is clear.

From digital documents to legal business identity

The significance of the EBW is that it goes beyond providing another application for storing documents. It is intended to establish a harmonised, legally recognised business identity capable of operating across the Single Market.