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Since 2017, European banks and other payment service providers (“ PSPs”) have been able to offer instant credit transfer (“ ICT”) services, to their customers (i.e. payment service users (“ PSUs”), that allow them to make euro transfers immediately, 24 hours a day and every day of the year. These

On 3 July 2024, the draft law No. 8185 (the “ Draft Law”) has been voted on for the first time before the Luxembourg Parliament ( Chambre des Députés ) . A second vote on the Draft Law by the Luxembourg Parliament is normally required under the Luxembourg Constitution but it is expected that as

EU Regulation now applicable As of 23 March 2023, Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (the “ DLT Pilot Regime Regulation”) is applicable (noting that certain provisions thereof were applicable from an earlier date). The DLT

Q&A regarding the DLT Pilot Regime On 3 February 2023, ESMA updated its questions and answers on the implementation of Regulation (EU) 2022/858 of 30 May 2022 on a pilot regime for market infrastructures based on distributed ledger technology (" DLT") (the “ DLT Pilot Regime Q&A”) with the addition

On 20 March 2022, 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

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