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By Benoit CHAMBON, Koinju | CLO co-founder
European Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (hereinafter “Pilot Regime”) entered into force on March 23, 2023. This pilot regime, with an initial duration of three years, which can be extended to six years, allows operators of market infrastructures already established (like the LuxSE for example) and new entrants to use blockchain technology to operate a multilateral trading system and/or a settlement system on tokenized financial instruments (or “security tokens”).
Finally, this Pilot Regime tends to transpose the obligations applied to traditional investment firms to new forms of decentralized market infrastructures....
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