Luxembourg is once again taking a step forward, showing that blockchain is not just a hype, but a real tool for changing the financial sector. Their new 'Blockchain Law 4' sounds like part of a franchise, but instead of a spy movie, we see serious changes in the management of securities.

A two-tier system, where there are both central managers and depositories, looks like an attempt to eliminate unnecessary bureaucracy while keeping everything under control. It's like updating old software to a new one: the interface is simpler, but the functionality remains the same. And the main thing is that banks and investment companies can work within this system without the need for extra paperwork within the country. Well, of course, they will have to notify the CSSF, but that sounds much simpler than obtaining a license.

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