The European Securities and Markets Authority (ESMA) has launched a call for evidence to see whether there’s a need to change rules – the regulatory technical standards (RTS) – for the DLT pilot for securities that’s expected to start in 2023. It’s looking for input by 4 March 2022.
As context, the EU is working on regulatory plans for crypto-assets. On the one hand, stablecoins and cryptocurrencies will be covered by the draft MiCA legislation. However, this does not address securities.
A separate DLT pilot regime covers the use of blockchain for stocks, bonds, and UCITS, Europe’s version of mutual funds. While the legislation is not yet final, the European Parliament and European Council reached an agreement on the wording in November 2021. It’s expected that the law will be passed around March 2022, and it will come into force nine months later, so early 2023.
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