CNMV authorises Bit2MeSTX, a Trading and Settlement System (TSS) based on Distributed Ledger Technology (DLT)
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The CNMV has authorised Bit2MeSTX, a Trading and Settlement System based on Distributed Ledger Technology (DLT), together with its internal rules. It will be operated by Bit2Me Security Tokens Exchange STX, A.V., and will allow shares and bonds represented on DLT to be traded and settled under the EU pilot regime of Regulation (EU) 2022/858.
Key points
- A TSS combines a multilateral trading facility and a settlement system in a single infrastructure.
- The pilot regime allows temporary exemptions from certain requirements if its conditions are met.
Who is affected
Issuers of tokenised securities, investors, intermediaries and the Spanish crypto and fintech ecosystem.
Plain-language version
The CNMV, Spain's market watchdog, has approved Bit2MeSTX, a platform for trading shares and bonds that are tokenised, meaning recorded on blockchain-style technology. It runs under an EU pilot scheme. It is a step towards this kind of investing happening under supervision rather than on unregulated platforms.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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