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It is expected that European corporate community – from companies and factories to start-ups, would spend less time on administrative work and compliance. At the same time, they will have more time innovating and scaling-up, thanks to the European Commission’s new digital package, involving the so-called “digital wallets”.
Background
The new Commission’s initiative opens opportunities for European companies to grow and to stay at the forefront of technology while at the same time promoting Europe’s highest standards of fundamental rights, data protection, safety and fairness.
Basically, the package includes a digital omnibus that streamlines rules on artificial intelligence (AI), cybersecurity and data, complemented by a Data Union Strategy to unlock high-quality data for AI, and the so-called European Business Wallets that are supposed to offer companies a single digital identity to simplify paperwork and make it much easier to do business among EU member states.
The package also aims to ease compliance with simplification efforts estimated to save up to €5 billion in administrative costs by 2029. Additionally, the European Business Wallets could unlock another €150 billion in savings for businesses each year.
More in: https://digital-strategy.ec.europa.eu/en/news/simpler-eu-digital-rules-and-new-digital-wallets-save-billions-businesses-and-boost-innovation
Digital Omnibus to simplify rules on data and AI
= Simplification rules will save up to €5 billion in businesses’ administrative costs between now and 2029.
= Besides, it will be better and simpler data access by:
• Helping EU companies compete globally and strengthen Europe’s tech sovereignty.
• Making the privacy framework simpler, clearer and innovation-friendly while maintaining the highest level of data protection.
• Improving online experience for users: one-click to consent or reject cookies and users’ cookie preferences saved and respected.
= There would be streamlined cybersecurity reporting by introducing a single-entry point where companies can meet all incident-reporting obligations.
Digital Omnibus
The Digital Omnibus was initially adopted by the Commission in November 2025; it introduced two distinct regulations for the EU-wide digital transition (aka, “omnibus”):
= first, the Digital Omnibus covering data, cybersecurity and privacy rules, and
= second, the Digital Omnibus on AI.
As to the first, there are some examples of proposed revisions of existing rules:
= a single-entry point for all cybersecurity incidents and data breaches reports;
= merging of the provisions of the Data Governance Act, the Open Data Directive and the Free Flow of Non-Personal Data Regulation, into a single, restructured, Data Act; and
= repealing the ‘P2B Regulation’ (platform-to-business regulation), the provisions of which were partially made redundant by the Digital Services Act.
As to the second, the Digital Omnibus on AI puts forward a series of targeted amendments to the AI Act, including:
= Aligning the deadline for applying high-risk obligations, with the availability of related standards and support tools;
= Extending certain simplifications granted to SMEs, as well as
= Rationalising the governance by granting the AI Office more oversight
More in: https://digital-strategy.ec.europa.eu/en/library/digital-omnibus-ai-regulation-proposal
Hence, generally, the EU’s Data Strategy includes such directions that would lead to the following outcomes:
= Scaling-up access to high quality data for AI;
= Protecting the European data sovereignty; and
= Streamlining and simplifying “data rules”, while protecting fundamental human rights.
European business wallets
The European Commission’s Competitiveness Compass, introduced by Ursula von der Leyen in January 2025, outlined some key actions to strengthen European economic and technological leadership in the world.
Thus, the European Business Wallet (EUBW) becomes a “strategic enabler” for trusted digital identity, secure transactions and regulatory automation across B2B and B2G systems in the EU member states.
However, unlike the “digital identity wallet” (EUDI-Wallet) for citizens, which faces adoption barriers and compelling large-scale business cases, businesses have a clear incentive to adopt EUBW due to compliance needs, cybersecurity risks, innovation potential and process automation benefits.
The EUWB – as a core component of its digital strategy – is addressing the growing need for trusted and verifiable digital identities for legal entities. This initiative builds on the European Digital Identity Wallet framework, extending it to businesses, organizations and public institutions to enhance security, interoperability and regulatory compliance.
A major initiative within this framework is the European Business Wallet, envisioned as the cornerstone of seamless digital business interactions across the EU states, and includes:
= making it easier and more secure for companies to operate anywhere in the EU;
= allowing companies and public bodies identify, authenticate and exchange data; and
= by reducing administrative processes and costs, it could unlock up to €150 billion in savings for businesses each year.
More in: https://medium.com/spherity/the-european-business-wallet-a-strategic-pillar-for-digital-identity-and-industrial-3f9983f7b299
On the digital rulebook
The EU-wide Digital Rulebook, also known as the “digital acquis”, is that part of the EU digital legislation governing emerging digital technologies, cybersecurity, online platforms and electronic communications. These sets of rules aimed at supporting innovation, promoting fair competition, protecting consumers, ensuring data privacy, as well as addressing numerous challenges arising from the EU-wide digital transition.
Existing EU digital rules are aimed at safeguarding the European values and standards; however, as they have “grown to keep pace with the technological and innovation landscape”, they have exposed the EU’s businesses to high compliance costs and, in some cases, to the legal uncertainty.
Source: https://digital-strategy.ec.europa.eu/en/policies/digital-rulebook
General reference: https://ec.europa.eu/commission/presscorner/api/files/attachment/881887/Factsheet%20Digital%20Package.pdf -November 2025.