European Union: European Commission published proposal for a Regulation on the establishment of European Business Wallets (2025/0358)

On 19 November 2025, the European Commission published the proposal for a Regulation on the establishment of European Business Wallets (2025/0358). The proposal sets out a harmonised digital framework enabling economic operators and public sector bodies to identify, authenticate and exchange data with full legal effect across the European Union. It outlines objectives to reduce administrative burdens, streamline compliance processes, ensure secure cross-border identification and authentication, by introducing the European Business Wallet. The European Business Wallet is defined as a digital tool for storing, managing and sharing verified identification data, electronic attestations of attributes and legally recognised mandates. Actions carried out using the European Business Wallet would have the equivalent legal effect as other lawful actions and would be compatible with European Digital Identity Wallets, as established by Regulation (EU) 910/2014 as amended by Regulation (EU) 2024/1183.