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ARTICLE · 28 OCTOBER 2026

CSSF Issues FAQ On Tokenisation Of Luxembourg Funds

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Luxembourg's financial regulator CSSF has issued new guidance clarifying how investment funds can natively issue units and shares using distributed ledger technology. The FAQ addresses critical questions about the interaction between traditional fund administration roles and blockchain-based control agents, while establishing compliance requirements under DORA regulations. What operational models and regulatory obligations must fund sponsors navigate when tokenizing Luxembourg UCIs?

LuxembourgFinance and Banking
Jean-Louis Frognet
Jean-Louis Frognet
Patrick Goebel
Patrick Goebel
Laura Rossi
Laura Rossi
Arne Bolch
Arne Bolch
Christine Renner
Christine Renner
Philippa List
Philippa List

Luxembourg supervisory authority for the financial sector, the Commission de Surveillance du Secteur Financier (CSSF) published a new set of frequently asked questions on tokenisation (Tokenisation FAQ)1 addressing the tokenisation of units or shares of Luxembourg undertakings for collective investment (UCIs) and the role of control agents under the Luxembourg act of April 6, 2013 on dematerialised securities, as amended (the Dematerialised Securities Act). The Tokenisation FAQ sets out the CSSF's position on native issuance of fund units on distributed ledger technology (DLT), the interaction between the registrar function and the control agent function, and the regulatory requirements applicable to control agents.

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