Milano Global Advisors (MGA) is just the third firm to be accepted as a digital securities registry under Italian law. Its tokenization technology partner is BlockInvest, backed by Credit Agricole Italia.
In March 2023 Italy introduced the Fintech Decree which supports the concept of digital securities which don’t require a central securities depository (CSD), but instead the record of shareholders is stored on a DLT.
The company responsible for the records becomes the registrar. This is similar to Germany’s Electronic Securities law (eWpG) and Luxembourg’s concept of a control agent. The Italian law enacts the EU DLT Pilot Regime but also allows for DLT based securities that don’t fit within the regime, again, similar to eWpG securities.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
