Online platforms

To be approved, a platform must be established in a Member State, present sound accounts, describe its identification policy, demonstrate the security of its systems and accept mediation. It undergoes a technical audit by an independent expert.

Approval is granted for three years, with an annual follow-up audit. It is withdrawn in case of serious breach: no identification, failure to report, serious breaches of data security.

Day to day, the platform identifies its sellers above a threshold, checks works flagged by the BIOP database, displays fees and rights transferred, keeps records of transactions for ten years and responds to requests from the authority. It reports suspicious transactions.

It provides a mechanism for freezing a token or listing in case of a report of theft or fraud. The freeze is temporary and the seller is informed insofar as this does not compromise an investigation.

Platforms sit at the interface of buyers, sellers, artists, experts and authorities. Their role as trusted third parties presupposes that they are neither judge nor party: a platform cannot be at once seller, expert and lender on the same work.

The approval regime imposes this separation of roles and encourages platforms to form partnerships with accredited experts, insurers and approved carriers.