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ARTICLE · 17 JUNE 2022

DLT Pilot Regime: A Framework For DLT Market Infrastructures

CMS Luxembourg
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On 2 June 2022, Regulation (EU) 2022/858 of the European Parliament and of the Council on a pilot regime for market infrastructures based on distributed ledger technology ("DLT")...

LuxembourgFinance and Banking
Aurélia Viémont
Aurélia Viémont
Sarah Hantscher
Sarah Hantscher
Mélanie Poirrier
Mélanie Poirrier
Julien Robert
Julien Robert
Anne Picot-Guillot
Anne Picot-Guillot
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1. Background and scope

On 2 June 2022, Regulation (EU) 2022/858 of the European Parliament and of the Council on a pilot regime for market infrastructures based on distributed ledger technology ("DLT") was published in the Official Journal (the "Regulation"). The Regulation aims to provide entities which operate securities trading and settlement systems based on DLT ("DLT Market Infrastructures") with a set of rules suited to crypto-assets that qualify as financial instruments within the meaning of Directive 2014/65/EU ("MiFID II"). The Regulation further enables such entities to be exempted from a number of requirements that would normally be applicable to them under existing European Union ("EU") directives or regulations.

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