Response by Grayscale Investment LLC to the European Commission With regard to the Scope of coverage and Transparency in ISDS, in the TTIP

Abstract

Abstract:

Investor protection is of vital importance to both investors and states, and international investment protection is even more important to both sides of the agreement i.e. investors and host country/ state. It is clear that what the Transatlantic Trade and Investment Partnership (TTIP) between the European Union (EU) and the United States (U.S) tries to achieve is; protecting investors and safeguarding their interest on one side; while maintaining the state/ country’s sovereignty and protecting the public interest on the other side. hence, the main objective of this treaty is to increase international investments and trade between two huge markets; the U.S and the EU (Union, 2014).

Over this submission, Grayscale Investments, LLC (Grayscale), an American digital currency asset manager is responding and proposing to the European Commission’s public consultation on modalities for investment protection and ISDS in TTIP, and the updated investment chapter.

Grayscale acknowledges the importance of this agreement and fully supports it; yet, it wishes to get clarification over some issues; and propose a recommendation to both the public consultation version, and the updated TTIP’s investment chapter.

Grayscale has spotted some areas of concern in the TTIP; however, its main concern is over the first question that was raised in the European Commission’s public consultation. Namely, the scope of the substantive investment and its provisions of protection. Though Grayscale supports the updated scope of coverage, and the definition of both covered investments and investors; but it believes that the definition is still not clear. So, it needs to get some clarification on whether Grayscale’s scope of business is covered; therefore, protection would be granted to my client.

Another issue catches Grayscale’s interest is; the Transparency in ISDS. And whether it is adequate and fair or not. Though the EU-Canada agreement “CETA” has made a huge development to the Transparency of proceeding. Which is the recommended text the EU has recommended it in its public consultation version. Yet, Grayscale would like to raise some suggestions and propose recommendations in relation to this subject.