'Advantages' of distributed ledger technology and the DLT Pilot Regime

The aim of the DLT Pilot Regime is to allow for the development of crypto-assets that qualify as financial instruments and for the development of distributed ledger technology. This development is sought, among other things, by allowing some DLT market infrastructures to be temporarily exempted, under certain conditions, from some of the specific requirements of Union financial services legislation that could otherwise prevent operators from developing solutions for the trading and settlement of transactions in crypto-assets that qualify as financial instruments. Distributed ledger technology is often presented as revolutionary technology that will change the future. This paper will examine to what extent each of the indicated in this article 'advantages' of DLT is implemented by the DLT Pilot Regime. Such analysis allows us to assess how DLT-friendly this Regulation is.

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