On 20 March 2023, the Luxembourg law (draft law No. 8055) on distributed ledger technology (the "DLT Law") amending (i) the law of 5 April 1993 on the financial sector (the "Financial Sector Law"), (ii) the law of 5 August 2005 on financial collateral law (the "Financial Collateral Law") and (iii) the law on 30 May 2018 on markets in financial instruments (the "Markets in Financial Instruments Law") was published in the Luxembourg Official Gazette.
In an article published on 6 October 2022, we summarised the highlights of the DLT Law, which was in draft form at the time. For an overview of the amendments introduced by the DLT Law, we refer you to our previous newsletter article on the topic.
While the amendments on the Financial Collateral Law will enter into force on the date the DLT Law is published, amendments to the Financial Sector Law and Markets in Financial Instruments Law will apply from 23 March 2023.