🚀 Luxembourg Passes Blockchain Law to Facilitate DLT Securities
#Luxembourg #BlockchainLaw #DLT #Securities #ForesightNews #Regulations #CSSF #InvestmentFirms #CentralSecuritiesDepository
According to Foresight News, Luxembourg has enacted its fourth blockchain law, known as 'Blockchain Law 4,' aimed at simplifying the adoption of distributed ledger technology (DLT) for securities. The new legislation introduces a two-tier system under the current DLT securities framework. The first tier involves a central account manager, akin to a central securities depository (CSD), but with less complexity. The second tier pertains to account managers, or custodians.
In this framework, EU credit institutions, investment firms, or central securities depositories can act as control agents. While obtaining a license in Luxembourg is not required, entities must notify the regulatory authority, the Commission de Surveillance du Secteur Financier (CSSF), several months in advance.#Luxembourg #BlockchainLaw #DLT #Securities #ForesightNews #Regulations #CSSF #InvestmentFirms #CentralSecuritiesDepository
🚀 Ripple Secures Full EMI License from Luxembourg Regulator
#Ripple #EMIlicense #Luxembourg #CSSF #financialregulation #ForesightNews #XRP
Ripple has successfully obtained a full electronic money institution (EMI) license from the Luxembourg Financial Sector Supervisory Commission (CSSF). According to Foresight News, the company had previously received preliminary approval for this license last month and has now fulfilled all the conditions set by the CSSF.#Ripple #EMIlicense #Luxembourg #CSSF #financialregulation #ForesightNews #XRP