Luxembourg Bill Provides Regulation Framework For Blockchain Securities
Luxembourg's Chamber of Deputies, the country's 60-person parliament, approved bill 7363 on Thursday, February 14, thereby establishing a regulatory framework for securities issued on blockchains. Passing with 58 parliament members voting yes and two voting no, the bill aims to offer "greater certainty for investors and make the transfer of securities more efficient by reducing the number of intermediaries."
Bill 7363 has roots in two previous securities-related laws passed in Luxembourg. The first, passed in August 2001, dealt with the legal circulation of securities within the country. It was then modernized in April 2013 with an amendment that gave legal status to "dematerialized securities". Dematerialized securities are securities that "are not evidenced by any paper support documentation."
University.it has reported the article from https://www.ethnews.com/