Distributed Ledger Technology in the “Sandbox”- Today (22. June 2022) the EU-DLT pilot regime enters into force.
published on 22 June 2022
When creating the legal framework for regulations in the financial sector, the European legislator had primarily traditional financial services in mind. As a result, novel technologies and products, in particular distributed ledger technologies ("DLT") and crypto-assets, are not satisfactorily regulated.
On the one hand, this may have the effect of unnecessarily hampering innovation in finance, and on the other hand, novel developments may pose previously unknown risks.
Therefore, as part of the Digital Finance Package, in order to promote digital finance, the EU legislator adopted Regulation (EU) 2022/858 of 30 May 2022 on a pilot regime for market infrastructures based on distributed ledger technology (DLT pilot regime), which was published in the Official Journal of the European Union on 02 June 2022, which enters into force today (22. June 2022) and which will apply as of 23 March 2023.