The eIDAS Regulation – formally the Regulation on electronic identification and trust services for electronic transactions in the internal market – was adopted on 23 July 2014. It aims is to provide a predictable regulatory environment to enable secure and seamless electronic interactions between businesses, citizens and public authorities throughout the entire EU. It ensures that people and businesses can use their own eIDs to access public services in other EU countries and enhances cross-border interoperability of electronic trust services.
The first section of the eIDAS Regulation relates to the government-recognized eIDs and establishes a legal framework that will allow all EU countries to recognize each other’s eIDs. The second section of eIDAS deals with the various electronic signatures (i.e. simple, advanced and qualified). It clarifies existing rules, but also introduces a new legal framework for electronic signatures, seals and timestamps. The new legal framework is not mandatory but introduces certain requirements that can be followed in order to grant greater legal certainty and to improve the reliability of these services.
For the purpose of the iSHARE Trust Framework, the governing body will determine which eID providers are to be used, which trust service providers are to be engaged and the roles these trust service providers have within the iSHARE Trust Framework. The selection of eID and trust service providers is also relevant for the international orientation of the iSHARE Trust Framework and to foster the cross-border interoperability of electronic trust services.