PANews December 21 news, according to Ledger Insights, Luxembourg has passed (Blockchain Law 4), aimed at making it easier for securities to adopt DLT. This is the country's fourth blockchain law. The new legislation introduces an optional role for control agents in the issuance of digital securities. According to the current DLT securities law, Luxembourg adopts a two-layer concept, including central account managers, similar to central securities depositories (CSD), but less cumbersome. The second layer involves account managers, i.e., custodians. Due to the involvement of two layers, reconciliation processes that DLT can bypass are still required. EU credit institutions or investment companies or central securities depositories (CSD) can act as control agents. They do not need to obtain a license in Luxembourg but must notify the regulatory authority (CSSF) months in advance.
