According to a report from ledgerinsights by Shenchao TechFlow, Luxembourg passed its fourth blockchain bill on December 20, expanding the application of DLT in the securities field. The new bill introduces the role of Control Agent, allowing investors to hold securities directly and extending the application of DLT from non-listed bonds to non-listed stocks and funds.

As the EU's fund issuance center, Luxembourg's new bill allows EU credit institutions, investment companies, or CSDs to act as Control Agents without the need for a local license in Luxembourg, only requiring a two-month prior filing with the regulatory authority CSSF.