The European Commission’s proposed Pilot Regime Regulation for market infrastructures using DLT (PRR) will temporarily allow incumbents to use DLT in some of their activities. Under current legislation, market infrastructures are prevented or restricted in their use of DLT or are required to duplicate certain record-keeping. The PRR will allow specific incumbent firms that are already authorised to operate specific market infrastructures to apply for certain restrictions and requirements, permitting them to make use of DLT.
The PRR enables a market infrastructure to apply for, and be granted, temporary exemption from certain EU legislative requirements applicable to crypto-assets that qualify as financial instruments.
To learn more about PRR download our concise summary here.