Luxembourg lawmakers have created a legal framework for security tokens

A bill has been passed in Luxembourg creating a legal framework for blockchain-assets, which are inherently securities. It is reported by CoinDesk .

The Chamber of Deputies of this European country adopted the bill on February 14. 58 deputies voted for the new rule, only two legislators are against.

The bill with the 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 investors confidence and increase the efficiency of operations with securities by reducing the number of intermediaries ," said representatives of the Chamber of Deputies.

According to the document, holders of security tokens are endowed with the same rights as holders of traditional non-documentary securities.

Despite the tiny square, Luxembourg is one of the richest countries in Europe with a high standard of living. This is a major financial center, where many investment funds and more than 200 banks operate.

Earlier, the BlockchainJournal named 10 European countries that are most suitable for a successful ICO. Luxembourg is among them.

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