The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.
ICMA (International Capital Market Association) has published a directory of regulatory guidance, legislative initiatives and other publications related to the use of distributed ledger technology (DLT).
There have been a growing number of DLT use cases in the international bond markets over the last three years, ICMA says.
“While the majority of transactions have been of experimental nature, legal and regulatory uncertainty around the treatment of DLT appears to be one of the key challenges to its broader adoption.”
Although there is a consensus that regulation is designed to be technology-neutral, regulators and legislators have adopted different approaches to provide greater clarity and accommodate the use of DLT in the financial sector, ICMA says.
The new directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, as well as related strategy papers and publications in selected jurisdictions across Europe, North America, and Asia-Pacific.
In producing the directory and brief, ICMA aims to provide a sense of the direction of travel, anticipating future regulatory DLT guidance and legislative change, which will pave the way for broader adoption of DLT.
The directory and brief are available for download here.