On June 2, 2022, Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (the Regulation) was published in the Official Journal of the European Union.
The Regulation aims to eliminate regulatory barriers to the issuance, trading, and post-trading of financial instruments in the form of crypto-assets and to ensure that EU regulators gain experience in the application of distributed ledger technologies (DLTs) in multilateral trading facilities and settlement systems. It is the first to be implemented of three legislative initiatives that were announced in the Digital Finance Package, which the European Commission adopted on Sept. 24, 2020.