Luxembourg has recently passed the 'Blockchain Law 4', paving the way for the adoption of distributed ledger technology (DLT) for securities. This is the country's fourth legislative attempt in the blockchain field, aimed at simplifying the securities trading process. 📈

According to the new law, Luxembourg has adopted a two-tier concept: central account managers and account managers. The former is similar to a central securities depository (CSD), but operates more simply. The latter is responsible for specific account management. 🔗

It is worth noting that EU credit institutions, investment firms, or CSDs can act as controlling agents without needing to obtain permission in Luxembourg, but must notify the regulatory authorities in advance. 📜

This initiative demonstrates Luxembourg's positive attitude toward the application of blockchain technology, while also providing a reference for other countries. 🌍