Luxembourg now recognizes both blockchain-issued securities and traditional securities as having the same legal status.

With near-unanimous consensus from its Parliament, the Chamber of Deputies, Luxembourg has officially approved a new bill enhancing transparency and legality for blockchain services in its financial market.

Only two parliamentarians out of the Chamber’s strength of 60 voted against the bill’s passing, reported Luxembourg Times (Feb 14). The bill is also aimed at increasing the efficiency of securities transactions by cutting down the number of intermediaries involved in the process.