Regulatory Alerts2025-09-15
Guidance on the DLT Pilot Regime Regulation
The Belgian Financial Services and Markets Authority (FSMA) and the National Bank of Belgium (NBB) clarify their respective roles and responsibilities for processing applications under the EU DLT Pilot Regime. The document specifies that the NBB handles applications for DLT settlement systems and DLT trading and settlement systems operated by central securities depositories, while the FSMA manages applications for DLT multilateral trading facilities and DLT trading and settlement systems operated by investment firms or market operators. Applicants must submit their requests to the designated authority using ESMA guidelines and may include requests for exemptions, with the NBB and FSMA required to consult each other before granting specific permissions.