DLT Pilot Regime
ESMA: European Securities and Markets Authority — Crypto and Tokenization Oversight
ESMA coordinates MiCA implementation across 27 EU NCAs, operates the CASP public register, publishes binding RTS/ITS, and oversees the DLT Pilot Regime for tokenized securities trading.
EU DLT Pilot Regime: Testing Tokenized Securities Infrastructure
The EU DLT Pilot Regime (Regulation 2022/858, effective March 2023) allows trading venues and CSDs to operate DLT-based securities infrastructure with regulatory exemptions for up to 6 years, testing the viability of on-chain settlement for EU securities.
European Union Tokenization Regulation: MiCA, DLT Pilot Regime, and MiFID II
Comprehensive guide to EU tokenization compliance — MiCA CASP licensing, DLT Pilot Regime, MiFID II for security tokens, ESMA coordination, and passporting rules.
MiFID II and Tokenized Securities
Tokenized securities that qualify as MiFID II financial instruments are regulated under MiFID II — not MiCA — requiring investment firm authorisation, best execution, and transparency compliance.
Real Estate Tokenization Law: Global Regulatory Frameworks
Real estate tokenization regulation globally: securities law analysis, property rights frameworks, EU DLT Pilot Regime, SEC exemptions, ADGM, Singapore, and key compliance requirements.
Regulatory Sandbox
Regulatory sandboxes allow tokenization startups and financial institutions to test innovations under regulatory supervision with limited liability, in controlled real-world environments.
Smart Contract
A smart contract is self-executing code deployed on a blockchain that automatically enforces agreement terms when predefined conditions are met.