Both the EU and the Luxembourg legislators have recently adopted new rules to promote innovation and the use of distributed ledger technologies in the financial sector.
At the European level, a new pilot regime has been created to allow the development of DLT market infrastructures. The EU DLT Pilot Regime will be fully applicable from 23 March 2023. Furthermore, the Luxembourg Parliament has approved a new law transposing the EU DLT Pilot Regime into national law and recognising the possibility of using DLT instruments for financial collateral arrangements. The law was published in the official journal on 17 March 2023 and will enter into force on 23 March 2023.
The GSK Update provides an overview of the main changes introduced by the new legislation.
Valerio Scollo, LL.M. (NYU), LL.M. (NUS)