On December 21st, it was reported that Luxembourg passed the Blockchain Law 4, which aims to make it easier for securities to adopt DLT. This is the fourth blockchain law in the country. Under the current DLT securities law, Luxembourg adopts a two-tier concept, including a central account administrator, similar to a central securities depository (CSD), but less cumbersome. The second layer involves the account administrator, i.e. the custodian. European Union credit institutions or investment companies or central securities depositories (CSDs) can act as controlling agents. Licensing in Luxembourg is not required, but the supervisory authority (CSSF) must be notified several months in advance.