Luxembourg lawmakers have created a legal framework for security tokens

[Paha87]

Luxembourg has adopted a bill that creates a legal basis for blockchain assets, which are inherently securities. It is reported by CoinDesk.

The European chamber of deputies passed the bill on 14 February. 58 deputies voted for the new norm, against-only two legislators.

The bill number 7363 is intended to eliminate legal uncertainty in the financial market. In particular, the document establishes the rules for issuing securities using blockchain technology.

"The law is intended to give confidence to investors and improve the efficiency of operations with securities by reducing the number of intermediaries," representatives of the chamber of deputies said.

According to the document, holders of security tokens are granted the same rights as holders of traditional uncertificated securities.

Despite the tiny area, Luxembourg is one of the richest countries in Europe with a high standard of living. It is a major financial centre with many investment funds and more than 200 banks.

Earlier, ForkLog called 10 European countries, the most suitable for a successful ICO. These include Luxembourg.

Link (Russian) - https://forklog.com/zakonodateli-lyuksemburga-sozdali-pravovuyu-bazu-dlya-security-tokenov/