Legislative Decree No. 25 of 17 March on “Urgent provisions concerning the issuance and circulation of certain financial instruments in digital form and the simplification of FinTech experimentation”, introduces the rules for the issuance of 'tokenized' shares and bonds and represents a fundamental step towards the realisation of investments in digitalisation, bringing the Italian legal system into line with the provisions of EU Regulation 2022/85 on a pilot regime for market infrastructures based on distributed ledger technology (the so-called ‘DLT Pilot Regime’).
DLT technology enables the creation of innovative trading platforms in which crypto-assets representing bonds, equity instruments, investment fund units or shares or other tokenized assets can be traded and exchanged without the need to resort to dematerialisation systems or centralised management of financial instruments.
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