In Luxembourg, adopted a bill creating a legal basis for the blockchain assets, which are in essence securities. It is reported by CoinDesk.
The chamber of deputies the European country passed a bill on February 14. The new rule voted 58 deputies, against — only two of the legislator.
Bill number 7363 aims to eliminate legal uncertainty in the financial market. In particular, the document sets out the rules of securities issue by using blockchain technology.
“The law is intended to give confidence to investors and improve the efficiency of securities transactions by reducing the number of intermediaries”, — said the representatives of the chamber of deputies.
According to the document, holders of security-tokens are endowed with the same rights as the traditional owners of book-entry securities.
Despite the tiny area, Luxembourg is one of the richest countries in Europe with high standard of living. This is a major financial centre, where there are many investment funds and more than 200 banks.
We will remind, earlier ForkLog called 10 European countries, the most suitable for a successful ICO. These include and Luxembourg.