CoinVoice has recently learned that Luxembourg has passed the 'Blockchain Law 4', aimed at making it easier for securities to adopt DLT. This is the fourth blockchain law in the country.
According to the existing DLT securities legislation, Luxembourg adopts a two-tier concept, including a central account manager, similar to a Central Securities Depository (CSD), but less cumbersome. The second tier involves account managers, i.e., custodians.
EU credit institutions or investment firms or Central Securities Depositories (CSD) can act as control agents. There is no need to obtain a license in Luxembourg, but regulatory authorities (CSSF) must be notified several months in advance. [Original link]