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Pilot regime for market infrastructures based on distributed ledger technology (debate)
Progress in the field of digitisation affects all spheres of our lives, including the economic sphere. Openness to creative invention has always been a characteristic feature of our civilisation – and at the same time, what has determined its development. We have been successful thanks to the unbiased adaptation of inventions and innovations. Developing digital technologies are revolutionising financial markets. They allow you to make effective and secure transactions in a completely new, previously unknown way. They also allow the creation of new, digital forms of assets. Legislation and prudential supervision around the world are only just adapting to the new realities. The European Union – often associated with excessive bureaucracy and administrative burden – is therefore given the opportunity, through friendly legislation, to ‘attract’ digital finance markets and expand this branch of the economy. This is all the more important because the concepts of free market and freedom of choice were born in Europe: We should be a natural leader in this race. The DLT pilot scheme opens the way for safe and controlled trading of crypto-assets. Of course, in this area, our natural concern is the phenomenon of money laundering, which we want to prevent at all costs. Therefore, in parallel with the introduced facilitations, we must finalize work on the AML package.