21X’s Post

We are happy to be attending the European Commission’s workshop on asset tokenization in Brussels tomorrow. Christian Kulnick, our Head of Product will be representing Cashlink. The market developments around the impact of distributed-ledger-technology (#DLT) on financial markets has been strongly increasing. In order to provide legal certainty to European markets the EU adopted #MiCA and the DLT Pilot Regime #DLTPR both providing frameworks for Crypto Assets and DLT financial instruments respectively. To further adapt to market developments the EC is discussing funds tokenisation, secondary markets and standardisation as well as interoperability with all participants. As German market leader in tokenisation we are looking forward to contribute to the workshop with our experience gained during the last years. What do you think are the most important regulatory requirements on an European level in the DLT industry? 👇 Stay tuned for updates from Christian on the key takeaways and discussions that emerge from this important workshop. #DigitalAssets #Tokenization #Innovation #eWpG

IT'S OFFICIAL! It may not look like the most exciting document, but it's probably our most important one. After announcing earlier today that 21X had been granted the first, and to-date only, license to operate a blockchain-based trading and settlement system that is fully regulated in accordance with European Union (EU) law, here is the official proof! European Securities and Markets Authority (ESMA) has now logged our license details in the public register as an authorised #DLT market infrastructure operator under DLT-TSS. Once again, a big shout out to everybody that has helped and supported us on our journey so far - from employees and partners to investors and 21X friends. We could not have achieved this without you all. Now it's just the small matter of the go-live in the spring of 2025! #Tokenization #RWA #Capitalmarkets #DeFi #fintech #digitalassets

Join Björn Flückiger, Head Legal at SDX, at the CMTA's Digital Assets Seminar 2024 for an insightful panel discussion on "Digital Debt: Aligning Technology with Legal Requirements." Björn and the other panellists will share insights from real transactions, tackling key questions on tokenized debt, such as how to make sure that the tokens actually behave as the underlying rights require and how much of the terms should be on a chain. Speakers include: ▪️ Sébastien Dessimoz, Co-Founder and Managing Partner, Taurus SA ▪️ Björn Flückiger, Head Legal, SIX Digital Exchange ▪️ Jacques Iffland, Partner, Lenz & Staehelin ▪️ Dr. iur. Anna-Naomi Bandi-Lang, Attorney-at-law, Structuring, UBS Don't miss this opportunity to explore the future of digital debt! Registration: https://six.swiss/4bw0re3 #SDX #SIXdigitalexchange #SIXdigitalexchange #stockexchange #digitaldebt #banking #financialservices #financialinstitutions #innovation #DLT #blockchain

🚀 Exciting News in the Digital Asset Space! 🌐💼 Asian Development Bank (ADB) Cross-Border Settlement Infrastructure Forum (CSIF) has just dropped its latest gem 💎 - Brief No. 3, titled "An Introduction to Digital Assets." As our financial world rapidly evolves in this digital age, understanding the landscape of digital assets is crucial for professionals across industries. 🏦💻 This comprehensive brief dives deep into the complex and often confusing world of digital assets, offering clarity on definitions, characteristics, and regulatory approaches. Whether you're a fintech enthusiast, a financial services professional, or simply curious about the future of finance, this brief is a must-read! 📚🧠 Here are some key highlights that caught my attention: 🔍 No One-Size-Fits-All: There is no universal definition of digital assets. Different authorities and stakeholders use various terms and definitions, reflecting the complexity of this emerging field. 🏛️ Regulatory Lens: Definitions often mirror regulatory purviews and policy objectives rather than a unified understanding. This diversity showcases the challenges in creating a harmonized global approach. 📜 #UNIDROIT Principles: A ray of hope for standardization! The UNIDROIT Principles offer a comprehensive legal approach, defining digital assets as "electronic records capable of being subject to control." 🧩 Key Characteristics: The brief breaks down important features like record-keeping methods (account vs token-based), creation processes (native vs non-native), and intended uses (asset, payment, utility tokens). 🌉 Cross-Border Challenges: Different definitions and approaches can create hurdles for international transactions and regulation of digital assets. This highlights the need for global dialogue and cooperation. This brief is a valuable resource for anyone navigating the evolving digital asset landscape. It provides a solid foundation for understanding this dynamic field's current approaches and future considerations. 💡🔮 #DigitalAssets #Fintech #FinancialRegulation #Blockchain #CryptoRegulation Link: https://lnkd.in/e_iKpZrr

Europe just opened doors for trading in tokenised securities and we've definitely been waiting for it. 🥳 FORT Vilnius managing partner Andrius Mamontovas shares his insights on the matter: "European Securities and Markets Authority (ESMA) unveiled its DLT Pilot Regime, opening the doors for trading in tokenised securities. This could revolutionize our capital markets, making them more accessible and user-friendly for everyone. For those unaware, a tokenized security is the same share or bond traded in stock exchange, but it is recorded not in one database, but in many of them, i.e. on a block chain, therefore it is called a token. Here are my key takeaways from this update: 1. 𝐓𝐞𝐜𝐡 𝐯𝐬. 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧: It's clear that technology is sprinting ahead, ready to handle instant trades and settlements of tokenized securities. However, without a central bank digital currency (CBDC) in place, there's still some uncertainty. Will e-money tokens, especially those not issued by traditional banks (those are unlikely to jumped into train shortly), become a recognized means for settling trades? It is for the European Commission to clarify. Fingers crossed they will 😊 2. 𝐏𝐢𝐥𝐨𝐭 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐇𝐨𝐫𝐢𝐳𝐨𝐧: With four applications for licenses already in, and eight more expected (Axiology being one of them). Things are getting real. I'm especially excited about one ambitious project from Germany, aiming to handle the full lifecycle of a security trade, from buying to settling all things on blockchain. Can't wait to see how this unfolds. 3. 𝐃𝐢𝐫𝐞𝐜𝐭 𝐁𝐮𝐲𝐢𝐧𝐠 𝐟𝐨𝐫 𝐑𝐞𝐭𝐚𝐢𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬: The new regime allows us, the everyday investors, to buy securities directly, skipping the brokers. This is a big deal! Of course, we'll need to understand what DLT is, and the risks involved (i.e. fill in DLT questionnaire properly), but imagine the possibilities if this becomes a reality. I hope at least one player will open the gate for trade in tokenised securities for me and you directly, especially bearing in mind that instruments eligible for tokenisation are shares, bonds and fund units (i.e. no complex instruments). Stay tuned as this story develops, almost like a new season of a hit show on Netflix — only this time, it's about DLT in European finance!" #bankingandfinance #tokenization #fintech

EU Markets Watchdog Moves Closer to Finalizing Rules for MiCAThe European Union’s financial markets supervisor has released the initial final report on regulations under the Markets in Crypto Assets (MiCA) legislation, along with its third consultation package. The report from the European Securities and Markets Authority (ESMA) includes proposals on the information needed for firms to obtain authorization under MiCA, as well as requirements for firms demonstrating an intention to offer crypto services and acquire crypto assets. It also outlines how service providers should handle complaints. ESMA has submitted the report to the European Commission for adoption and has pledged to offer further advice and technical guidance as needed.... https://lnkd.in/dnvVTcNM #Closer #Finalizing #Markets #MiCA #moves #Rules #watchdog

Proud to stand with the Crypto Market Integrity Coalition (CMIC) in urging the U.S. Congress to prioritize thoughtful, bipartisan policymaking for the #DigitalAsset ecosystem. FinClusive is one of 55 CMIC members united in the commitment to uphold integrity, transparency, and collaboration across the #crypto and #blockchain industries. Together, we’re advocating for frameworks that promote innovation while safeguarding consumers and #FinancialMarkets. Read the full letter here to learn more about our shared vision for responsible digital asset policy:

Crypto.news highlighted the FIT21 Act as one of the main pieces of legislation to be addressed in 2024. Now, it seems politicos are ready to act https://lnkd.in/d7SJnAx3