Luxembourg Passes Blockchain Framework Bill Into Law
Luxembourg lawmakers have passed bill 7363 into law, facilitating the use of blockchain technology in financial services, according to an official announcement published by the country’s parliament, the Chamber of Deputies, on Feb. 14 .
The new law aims provide financial market participants with more transparency and legal certainty in regard to the circulation of securities with blockchain technology.
According to a local news outlet, the bill grants transactions done with blockchain technology the same legal status and protection as those done through traditional means.
Luxembourg is known for its proactive approach to blockchain technology.
Within the collaboration, the University of Luxembourg purportedly helps VNX develop higher levels of network security for digital assets.
In March, the Financial Regulator CSSF issued a warning against investments in cryptocurrencies and initial coin offerings.
Ana Alexandre’s original article for cointelegraph.com reduced by 46%
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