{"id":2770,"date":"2022-04-27T09:34:06","date_gmt":"2022-04-27T08:34:06","guid":{"rendered":"https:\/\/fair-alpha.org\/?p=2770"},"modified":"2022-08-18T09:15:46","modified_gmt":"2022-08-18T08:15:46","slug":"luxembourg-leads-tokenisation","status":"publish","type":"post","link":"https:\/\/fair-alpha.org\/en\/luxembourg-leads-tokenisation\/","title":{"rendered":"Luxembourg leads tokenisation"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>Digital assets, cryptocurrencies and blockchain technology are becoming an increasingly important part of the investment world. With regulation playing a major role in these asset classes, states have two approaches: pragmatic and fast or bureaucratic and slow. Luxembourg has opted for the pragmatic approach and is therefore leading tokenisation in the EU.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Luxembourg procedure can be reduced to a fairly simple idea where in principle, the same applies to tokens as to securities. \u201cObviously, there are subtle differences and considerations, but overall, you can well say that\u201d, said Daniel Knoblach, Board Member at FAIR ALPHA. \u201cIn principle, Luxembourg is once again a lot more pragmatic and flexible in its legislative design and regulatory mechanisms.\u201d This is also true in tokenisation, where virtual assets were simply incorporated in an existing law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under Luxembourg law, it is therefore permitted to issue dematerialised securities \u2013 virtual or digital assets authorised under the Law of 5 April 1993. \u201cThese are, however, exclusively security tokens and not monetary or utility tokens\u201d, Knoblach explained. This was achieved by way of Bill 7637, referred to as the Blockchain II Act 2021, which was passed by Parliament on 21 January 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Luxembourg now offers a regulatory framework that offers a high degree of reliability for all parties. Unlike Malta, for example, where the legal framework tends to benefit issuers of digital assets, Luxembourg\u2019s approach also considers investor rights. \u201cThe goal is to get digital assets and the technology for dealing with them out of a techies\u2019 niche\u201d, Knoblach said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traditional and digital assets may be securitised, tokenised and thus be made tradable in a customised manner. \u201cEasier transferability and tradability offer enormous advantages such as in the tokenisation of fund shares, which in most cases could only be acquired after elaborate and lengthy subscription processes up to now\u201d, Knoblach pointed out. \u201cThis development will also force the financial sector to adapt\u201d, Knoblach added. \u201cInstitutions that are currently indispensable in the value chain may no longer be needed in the near future because of blockchain and the associated security mechanism.\u201d This could concern settlement and custody firms, or certain services provided by banks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Last but not least, as all processes can be viewed and tracked at any time, the technology also adds another level of transparency to the market, including the confirmation of investor identity to issuers and authorities. \u201cThe wild freedom that had attracted many to some of the cryptocurrencies is not for institutional investors\u201d, Knoblach said. \u201cTokenisation helps in simplifying procedures relating to money laundering protection and customer identification.\u201d Blockchain technology also enables the long-sought unification and standardisation of procedures, including overall cost savings. Applying its pragmatic approach, Luxembourg has opened the door, also to uncover and eliminate existing regulatory gaps during ongoing operations. The other EU member states will have to follow suit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/fair-alpha.org\/wp-content\/uploads\/2022\/05\/Luxembourg-leads-tokenisation-04.27.2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Download press release!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital assets, cryptocurrencies and blockchain technology are becoming an increasingly important part of the investment world. With regulation playing a major role in these asset classes, states have two approaches: pragmatic and fast or bureaucratic and slow. Luxembourg has opted for the pragmatic approach and is therefore leading tokenisation in the EU. The Luxembourg procedure [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3170,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"1200","_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[51,54,56],"tags":[],"class_list":["post-2770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-crypto","category-luxembourg"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Luxembourg leads tokenisation - FAIR ALPHA Services SA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fair-alpha.org\/en\/luxembourg-leads-tokenisation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luxembourg leads tokenisation - FAIR ALPHA Services SA\" \/>\n<meta property=\"og:description\" content=\"Digital assets, cryptocurrencies and blockchain technology are becoming an increasingly important part of the investment world. With regulation playing a major role in these asset classes, states have two approaches: pragmatic and fast or bureaucratic and slow. Luxembourg has opted for the pragmatic approach and is therefore leading tokenisation in the EU. 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