According to Cointelegraph, the European Blockchain Sandbox Initiative (EBSI) announced that 41 regulators have joined its second batch. These institutions come from 22 EU and EEA countries, including France, Spain, the Netherlands, Italy, Greece and other countries.

The EBSI aims to support the use cases of distributed ledger technology (DLT), provide a framework for dialogue between blockchain projects, regulators and authorities, and identify legal and regulatory barriers to blockchain innovation.

The program will support 20 projects based on blockchain technology each year, which will be selected based on criteria such as commercial maturity, legal relevance and contribution to EU policy priorities.

On June 13, EBSI announced the list of companies joining the second batch, including projects such as Iota. Iota said that joining EBSI is a milestone for its identity solution, especially at a time when many regulators are considering their attitudes towards decentralized finance (DeFi).