On 30 March 2022, the Council of the EU published its text of the proposed Regulation on a pilot regime for market infrastructures based on distributed ledger technology. Earlier this month the European Parliament published its adopted text of the draft Regulation.

The next step for the draft Regulation is for the Council to adopt it. Following that it will enter into force 20 days after it is published in the Official Journal of the European Union and will apply nine months after the date it has entered into force, except for certain Articles (Articles 8(5), 9(5), 10(6) and 17) which will apply from the date of entry into force and one (Article 16) which will apply from 4 July 2021.