PANews reported on December 21 that according to Ledger Insights, Luxembourg passed the Blockchain Law 4, which aims to make it easier for securities to adopt DLT. This is the country's fourth blockchain law. The new legislation introduces an optional role for control agents for the issuance of digital securities. Under the current DLT securities law, Luxembourg adopts a two-tier concept, including a central account manager, which is similar to a central securities depository (CSD), but less cumbersome. The second tier involves an account manager, i.e. a custodian. Because there are two tiers involved, a reconciliation process that can be circumvented by DLT is still required. EU credit institutions or investment firms or central securities depositories (CSDs) can act as control agents. They do not need to be licensed in Luxembourg, but must notify the regulator (CSSF) a few months in advance.