No Roadblocks For Blockchain In Luxembourg: Extending The Use Of Distributed Ledger Technology

Luxembourg has gradually deployed the use of distributed ledger or database technology (DLT)¹, on which blockchain is based, since the very early stages of its development, with the outright intention of positioning the country at the forefront in the race for innovation and finance modernisation. An additional step forward was taken on 22 January 2021, with the adoption of Bill of Law 7637 (the Law) that amends the law of 6 April 2013 on dematerialised securities and the law of 5 April 1993 on the financial sector, as amended (the Financial Sector Law). The latter's main novelty consists of extending the use of DLT in financial transactions and broadening the horizons of Luxembourg's financial market players.