Woud Law Firm

Beginning of 2025, our team our event attendance is synonym of 🇫🇷 - stay tuned! We wrapped up an incredible two days at NFT Paris 2025 last month ! It was amazing to attend this innovative event and one of the largest in Europe 🇪🇺. Held at the stunning 𝑮𝒓𝒂𝒏𝒅𝒆 𝑯𝒂𝒍𝒍𝒆 𝒅𝒆 𝒍𝒂 𝑽𝒊𝒍𝒍𝒆𝒕𝒕𝒆 🏢 , the gathering brought together over 20,000 attendees from across the #blockchain and #NFT ecosystem. To underscore: ✔️ Insightful discussions on the intersection of #DLT, financial instruments, and Luxembourg's progressive legal framework. ✔️ Exploring the latest developments in asset tokenization and DeFi at the RWA Paris summit ✔️ Connecting with innovators pushing the boundaries of generative AI and Web3 at XYZ Paris ✔️ Witnessing cutting-edge showcases that are revolutionizing industries like fashion 👗 , gaming 🕹️ , and digital art 🎨 . Particularly interesting The RWA Stage (strong Woud´s point), focused on discussions about #decentralized finance and the #tokenization of real-world assets (RWA). It definitively provided a platform for exploring innovative #assetmanagement solutions and the intersection of traditional finance (#TradFi) and decentralized finance (#DeFi). We had the opportunity to represent the Luxembourg ecosystem alongside some of the main players, mostly part of The Luxembourg House of Web3. Looking forward to applying these learnings to our work at Woud Law and continuing to support our clients in navigating the exciting world of Digital Ledger Technology (#DLT) and Assets Tokenisation. À l'année prochaine. Anna Potkalo | Karima Lachgar | Shurong Li (李姝融)| Harry Lars Ghillemyn |Kim Dinse 🦉| Leonel Marques | Jesús Peña García 💥 | Tommaso Cervellati, MBA, CAIA | Dr. Eric Falk | Eric Babaud | Tobias Seidl | Nazim Morera | Luc Falempin | ⚔️ ⚔️ Sandro Ortolani | Moustapha Adjadj | Umberto Benti | Anthony Mansour, CIA | George Best | Alexandre Tsydenkov | Loïs Guilhou | Lucas Gruter | Artur Lourenço | Laurent Mosar |Gilles Roth | Xavier Bettel #NFTParis2025

MIPIM 2025 (Cannes)🇫🇷, the major international real estate 🏗️ and property trade from 11 to 14 March, is around the corner. #Tokenization will be trending in such a massive gathering. As a gentle reminder, it 𝐢𝐬 𝐭𝐡𝐞 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐨𝐟 𝐜𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐚𝐬𝐬𝐞𝐭𝐬 𝐮𝐬𝐢𝐧𝐠 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐥𝐞𝐝𝐠𝐞𝐫 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 (DLT). 🏛️ The tokenization of real estate is rapidly advancing, offering transformative potential for the industry. As of 2024, the global real estate tokenization market is valued at $3.8 billion and is projected to grow significantly, reaching $26 📈 billion by 2034. This growth reflects a shift in how real estate assets are managed and traded, driven by #blockchain technology and the benefits it brings to investors and property owners. ℹ️ One of the most significant advancements in tokenization is the concept of fractional ownership. The process of dividing high-value properties into smaller digital tokens, tokenization allows individuals to invest in real estate without needing substantial capital. This democratizes access to property markets, enabling retail investors to participate in opportunities that were previously reserved for institutional players or high-net-worth individuals. 💡 Fractional ownership also addresses one of real estate’s long-standing challenges: 𝐢𝐥𝐥𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲. Tokenized assets can be traded on blockchain platforms with relative ease, allowing investors to buy or sell their shares quickly without the delays and complexities of traditional transactions. ⚖️ Regulatory developments are playing a pivotal role in shaping the future of real estate tokenization. There are some jurisdictions that remain cautious, others, such as Singapore 🇸🇬 , are actively fostering innovation through initiatives like Project Guardian, which explores tokenization use cases. In the United States 🇺🇸 , the appointment of crypto-friendly regulators could pave the way for clearer legal frameworks governing #digitalassets. These advancements are crucial for building trust in tokenized real estate and encouraging wider adoption. I 👀 Institutional interest in tokenization is also growing. Banks 🏦 and asset managers are increasingly exploring its applications across different asset classes, including real estate. Successful pilot projects have demonstrated its potential to streamline processes such as treasury management while opening up new revenue streams through tokenized bonds, securities, and deposits. This institutional involvement is helping to validate tokenization as a viable solution for modernizing traditional financial systems. Sources: Antier Solutions CoinDesk Elliptic EleveX Harry Lars Ghillemyn Dr. Eric Falk Tristan Husson Loïck K. Julien Choveton-Caillat Güneş Ünüvar 𝐃𝐚𝐧𝐢𝐞𝐥 𝐑𝐨𝐝𝐫í𝐠𝐮𝐞𝐳 𝐌𝐢𝐠𝐮𝐞𝐥 Filedgr

The CFA Institute has recently released comprehensive research on #tokenization, highlighting its potential to reshape #capitalmarkets and asset ownership. As a gentle reminder, 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐢𝐬 𝐭𝐡𝐞 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐨𝐟 𝐜𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐚𝐬𝐬𝐞𝐭𝐬 𝐮𝐬𝐢𝐧𝐠 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐥𝐞𝐝𝐠𝐞𝐫 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 (#DLT) 📖 . Some outcomes: ✅ Tokenization can be applied to a wide range of #assets, including traditional investments like equities and bonds, as well as alternative investments such as private equity, commodities, real estate 🏗️ , and even art 🎨 . ✅ The value proposition of tokenization centers around three main areas: ✔️ Streamlined clearing and settlement ✔️ Improved transparency and compliance controls ✔️ Greater market access through fractional ownership ✅ The #CFAInstitute acknowledges both benefits and risks associated with tokenization. While it can bring many advantages, there are significant challenges related to #cybersecurity 🔐 , investor education, and regulatory uncertainty. ✅ The research explores various use cases and real-world scenarios to evaluate tokenization opportunities, including tokenized shares of small and medium-sized enterprises, art and collectibles, and private funds. ✅ The report emphasizes the need for regulators to develop an approach that encourages innovation while safeguarding investor interests and market integrity. ✅ Different regulatory approaches are emerging globally: ✔️ The United States 🇺🇸 appears to be moving towards a framework that fosters innovation and experimentation. ✔️ The European Union 🇪🇺 is seeking clear and consistent rules and standards for interoperability across member states. ✔️ The UK 🇬🇧 aims to bring digital asset regulation into existing securities laws. Urav Soni Olivier Fines, CFA Jinming (Jeanne) SUN Harry Lars Ghillemyn Tristan Husson Loïck K. Güneş Ünüvar Julien Choveton-Caillat Dr. Eric Falk Filedgr The Luxembourg House of Web3 ArcheanVision Daniel R.

As a global market leader in asset tokenisation, the Grand Duchy is shaping the future of digital finance. With its pioneering Blockchain Laws, Luxembourg offers a regulatory framework that guarantees on-chain transactions the same legal certainty as traditional ones. This dynamic landscape, supported by world-class IT and cybersecurity infrastructure, enables seamless connectivity between digital assets and global financial markets. No wonder so many firms trust Luxembourg to unlock the full potential of asset tokenisation. Learn more on why Luxembourg is the trusted bridge between tradition and digital innovation by watching our video. #DigitalAssets #Tokenisation #FinancialInnovation #Blockchain #Luxembourg

𝐋𝐨ï𝐜𝐤 𝐊𝐀𝐁𝐎𝐍𝐆𝐎 is Avocat admitted to the Luxembourg bar since 2023 and has a double master’s in Private Law at Faculté de Droit, Economie et Administration de Metz and European Law at Central European University With over 10 years of experience in the Luxembourg financial sector at leading institutions such as RBC, BGL BNP Paribas, Société Générale and ING, Loïck has gained deep experience in legal and regulatory matters, with a focus on regulatory compliance and risk management for depositary banks and the investment funds industry. Loïck has a special interest in digital assets and new technologies.   𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐭𝐲: curious, adapts and learns rapidly, diplomatic and excellent mediator, strong analytical skills, impressive communication skills, keen to learn. Let's extend a heartfelt welcome to Loïck! Harry Lars Ghillemyn Tristan Husson Loïck K. Julien Choveton-Caillat Güneş Ünüvar Daniel R.

🔥Member news: Woud Law Firm to join Hive! 🔥 Health innovation doesn’t just need cutting-edge ideas—it needs the right legal foundation to scale, secure funding, and navigate complex regulations. That’s why we’re thrilled to welcome Woud Law to our network! 🚀 💡 Who is Woud Law? Woud Law is an independent Luxembourg law firm specialising in capital and debt transactions, with deep expertise in distributed ledger technology. Their clients range from investment firms and financial professionals to visionary entrepreneurs in healthcare, real estate, energy, space, AI, and Web3. Their ability to craft intense, high-quality, and creative legal solutions makes them an invaluable partner for fast-moving industries. 🎙️ "We are honoured to be part of Hive and look forward to further strengthening Luxembourg as the healthcare innovation hub in Europe. We truly believe in the strength of inclusive and complementary ecosystems and applaud the arrival of Hive. Their focus on cutting-edge technology, digital health, and data-driven solutions fully aligns with our expertise, as many innovative healthcare ventures will face complex legal challenges related to corporate structuring, technology, licensing, and financing", said Harry Lars Ghillemyn, Founder and CEO of Woud Law. At Hive, we believe in bringing together the right people and expertise to fuel health innovation. Woud Law’s legal know-how will be instrumental in helping innovators navigate challenges and accelerate their growth. 💫 🏆 Our network is growing fast—don’t miss your chance to be part of it. Will your company be next to join? #Innovation #HealthTech #DigitalHealth #Luxembourg Benjamin Tillier | Sijmen van Schagen | Loïc Hoffmann | Andreea Munteanu | Elke LIEB | Luxinnovation GIE | HE:AL Campus S.A. | Catalpa Ventures | Adrian Goergen | Daniel Rodríguez Miguel

Exciting times at EY Luxembourg 🇱🇺 yesterday! The "𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: 𝐏𝐚𝐭𝐡 𝐭𝐨 𝐚 𝐦𝐨𝐫𝐞 𝐢𝐦𝐩𝐚𝐜𝐭𝐟𝐮𝐥 𝐟𝐢𝐧𝐚𝐧𝐜𝐞" event brought together industry leaders, including a strong presence from the The Luxembourg House of Web3. One of our co-founders, Harry Lars Ghillemyn, and two corporate members, Karima Lachgar and Brice Vandevoorde shared invaluable insights, highlighting the intersection of blockchain technology and structured finance. Together with Adrien Rollé and José Juan Ocaña, they were part of a panel discussion 🗣️ "𝑯𝒐𝒘 𝒊𝒏𝒗𝒆𝒔𝒕𝒐𝒓𝒔 𝒄𝒂𝒏 𝒃𝒆𝒏𝒆𝒇𝒊𝒕 𝒇𝒓𝒐𝒎 𝒕𝒉𝒆 𝒕𝒓𝒂𝒏𝒔𝒑𝒂𝒓𝒆𝒏𝒄𝒚, 𝒕𝒓𝒂𝒄𝒆𝒂𝒃𝒊𝒍𝒊𝒕𝒚, 𝒆𝒇𝒇𝒊𝒄𝒊𝒆𝒏𝒄𝒊𝒆𝒔 𝒂𝒏𝒅 𝒔𝒆𝒄𝒖𝒓𝒊𝒕𝒚 𝒕𝒉𝒂𝒕 𝒕𝒉𝒆 𝒃𝒍𝒐𝒄𝒌𝒄𝒉𝒂𝒊𝒏 𝒕𝒆𝒄𝒉𝒏𝒐𝒍𝒐𝒈𝒚 𝒂𝒏𝒅 𝒊𝒕𝒔 𝒔𝒖𝒑𝒑𝒐𝒓𝒕𝒊𝒏𝒈 𝒆𝒄𝒐𝒔𝒚𝒔𝒕𝒆𝒎 𝒐𝒇𝒇𝒆𝒓" ? a moderated by Romain Swertvaeger. ℹ️ The event delved into how #blockchain ⛓️ is reshaping securitization, offering enhanced transparency, traceability, and efficiency for investors. Discussions centered on leveraging new technologies to accelerate capital raising and foster connections between diverse ecosystems. 💡 Key topics were addressed such as tax updates shaping financial strategies, building bridges 🤝 between Luxembourg and global markets, Innovative approaches to capital financing and many more. The gathering showcased Luxembourg's growing role as a hub for cutting-edge financial innovation. 👏 Thank you to Fabio Henrique Rocha, Anja Taferner , Noor Muazeem Aly SAHABUN Sheroff Shaikh, FCCA, ACA for their fantastic interventions and the participants to the second panel "𝑷𝒆𝒓𝒔𝒑𝒆𝒄𝒕𝒊𝒗𝒆𝒔 𝒂𝒏𝒅 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒏𝒈 𝒐𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒕𝒉𝒂𝒕 𝒔𝒕𝒓𝒖𝒄𝒕𝒖𝒓𝒆𝒅 𝒇𝒊𝒏𝒂𝒏𝒄𝒆 𝒂𝒏𝒅 𝒔𝒆𝒄𝒖𝒓𝒊𝒕𝒊𝒛𝒂𝒕𝒊𝒐𝒏 𝒃𝒓𝒊𝒏𝒈 𝒕𝒐 𝒕𝒉𝒆 𝒄𝒖𝒓𝒓𝒆𝒏𝒕 𝒆𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒆𝒏𝒗𝒊𝒓𝒐𝒏𝒎𝒆𝒏𝒕: 𝑬𝒙𝒑𝒆𝒓𝒊𝒆𝒏𝒄𝒆𝒔' 𝒔𝒉𝒂𝒓𝒊𝒏𝒈" Adji Mbaye Laura Archange Beata Włodarska Nismah Nousher Ramtoola, ACCA and Cheikh Mandiogou Ndiaye 🚀 Last but not least, a big shoutout to Papa Saliou DIOP for the introduction, moderated the panel and as usual, the warm welcome and organization alongoside Patricia Gudino Jonas. 🔮 Looking forward to seeing how these insights will shape the future of structured finance and blockchain integration in the Luxembourg financial landscape! Morera Leonel Marques Eric Babaud Thibault Pasquier Maria Bezmelnitsina Daniel R. Michael Duval Sorin Cristescu Umberto Benti OffChain Luxembourg a.s.b.l. George Best Jesús Peña García 💥 Julien Choveton-Caillat Yves-Laurent K. Julie Bourgeois Jean-Paul Scheuren Pascale ANDRE Kevin Riou Roberto P. Aude Forestier EY Law Luxembourg

BlackRock is preparing to launch a Bitcoin-linked Exchange Traded Product (ETP) in Europe 🇪🇺 . This new product is expected to be domiciled in Switzerland 🇨🇭, a country known for its favorable #regulatory framework for cryptocurrencies. ℹ️ This initiative follows the resounding success of BlackRock's spot Bitcoin ETF in the United States 🇺🇸 , the iShares Bitcoin Trust (IBIT), which has attracted billions of dollars in investments since its launch in January 2024. In just 10 months, the #IBIT has outperformed the performance of the 2,800 ETFs launched in the United States over the past decade, reaching a value of $57 billion, which represents 2.95% of the total Bitcoin supply. ℹ️ The European ETP market for cryptocurrency-linked products is already very competitive, with over 160 products available. Nevertheless, its total size of $17.3 billion remains modest compared to the US market. BlackRock's arrival could therefore significantly disrupt the #cryptocurrency investment landscape in Europe. ℹ️ #BlackRock could begin marketing this #BitcoinETP within a month. Although the company has not made an official public statement, employees have spoken about this project informally. 💡 This expansion in Europe demonstrates BlackRock's unwavering confidence in digital assets, despite recent Bitcoin price fluctuations. It also underscores the company's desire to strengthen its dominant position in the global cryptocurrency investment sector. Image credit: CryptoRank Harry Lars Ghillemyn Tristan Husson Loïck K. Julien Choveton-Caillat Güneş Ünüvar Dr. Eric Falk Filedgr Daniel R.

The Bitso Business report 📖 "𝑯𝒐𝒘 𝑩𝒍𝒐𝒄𝒌𝒄𝒉𝒂𝒊𝒏 𝒂𝒏𝒅 𝑺𝒕𝒂𝒃𝒍𝒆𝒄𝒐𝒊𝒏𝒔 𝑪𝒂𝒏 𝑹𝒆𝒔𝒉𝒂𝒑𝒆 𝑪𝒓𝒐𝒔𝒔-𝑩𝒐𝒓𝒅𝒆𝒓 𝑷𝒂𝒚𝒎𝒆𝒏𝒕𝒔 𝒊𝒏 𝑳𝒂𝒕𝒊𝒏 𝑨𝒎𝒆𝒓𝒊𝒄𝒂" highlights the potential for #blockchain ⛓️ technology and #stablecoins to transform cross-border payments in the region. Take aways from the report: 💡 The combined consumer and B2B cross-border payments market is projected to expand by 47% from US$44 trillion 💰 to US$65 trillion by 2030. 💡 Latin American countries, including Brazil, Argentina, Mexico, and Colombia, show high #digitalasset adoption rates, ranking 9th, 15th, 16th, and 32nd globally in the #cryptomarket. ✅ 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬: 💡 𝐅𝐚𝐬𝐭𝐞𝐫 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬: Blockchain-based solutions offer quicker cross-border transfers compared to traditional methods. 💡 𝐂𝐨𝐬𝐭-𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞𝐧𝐞𝐬𝐬: Stablecoins can reduce transaction fees associated with international payments. 💡 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲: In countries with volatile currencies, stablecoins provide a more reliable medium of exchange. 💡 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲: Blockchain technology offers improved traceability and security for transactions. ⚖️ 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐥𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞  💡 The report analyzes the regulatory environment in 🇦🇷 Argentina, 🇧🇷 Brazil, 🇨🇴 Colombia, and 🇲🇽 Mexico. 💡 There's a mix of local and international regulations shaping the cross-border payments space in Latin America. 💡 Licensing requirements, AML/CFT regulations, and consumer protection measures are key factors influencing the adoption of blockchain solutions. 🔜 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 💡 Major financial institutions and tech companies, including DBS Bank, SAP, and PayPal, are adopting stablecoins for payments and settlements. 💡 Stablecoins are being increasingly used in sectors such as shipping 🚚 , agriculture 🚜 , and manufacturing 🏭 . 💪 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 💡 Regulatory uncertainty remains a significant factor affecting widespread adoption. 💡 The need for interoperability between different blockchain systems and traditional financial infrastructure is crucial for success. ℹ️ The document concludes that blockchain-based solutions and stablecoins have the potential to address long-standing issues in cross-border payments, particularly in Latin America, by offering faster, more efficient, and transparent transaction methods. Brice Vandevoorde Emilie Allaert Nazim Morera Leonel Marques Harry Lars Ghillemyn Juani Podesta Tomas Marty Eric Babaud Thibault Pasquier Maria Bezmelnitsina Michael Duval Sorin Cristescu Umberto Benti OffChain Luxembourg a.s.b.l. George Best Denzel Walters Anna Potkalo Eni Shtini Henri Ndreca Jesús Peña García 💥 Julien Choveton-Caillat Yves-Laurent K. Julie Bourgeois Pascale ANDRE Kevin Riou Sunny Jiang Brenda Copani Alejandro Arana Alejandro García Cestero Mariela Baldivieso Juanita Rodriguez Kattah Enrico Pavani Carolina S. Ricardo Prieto Sosa

The IMF's #Fintech Note on "𝑻𝒐𝒌𝒆𝒏𝒊𝒛𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝑴𝒂𝒓𝒌𝒆𝒕 𝑰𝒏𝒆𝒇𝒇𝒊𝒄𝒊𝒆𝒏𝒄𝒊𝒆𝒔" published in last month provides a comprehensive analysis of the potential impacts of asset tokenization on #financialmarkets. This note introduces a taxonomy and conceptual framework centered on market inefficiencies to evaluate the consequences of this emerging trend. 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 #Tokenization, which involves recording and transferring assets on a widely shared and trusted digital ledger that can be programmed, is expected to have both positive and negative effects on financial market inefficiencies: ✔️ Potential benefits include reduced costs in asset issuance, servicing, and redemption due to fewer intermediaries involved. ✔️ Trading costs may decrease as tokenization lowers some counterparty risks and search frictions while offering flexibility in settlement. ✔️ Greater competition among brokers could lead to lower transaction fees for investors. 𝐑𝐢𝐬𝐤𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 The note also highlights several potential risks associated with tokenization: ✔️ Financial stability concerns may arise if tokenization leads to increased interconnectedness among institutions and encourages them to hold lower liquidity buffers or higher leverage. ✔️ New risks related to #smartcontracts and faulty code could emerge, potentially introducing unforeseen vulnerabilities. ✔️ As competition may increase among financial intermediaries, the provision of market infrastructure could become more concentrated due to network effects. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 It is suggested that tokenization could significantly impact various stages of an asset's lifecycle, addressing inefficiencies at each step. Nevertheless, it is acknowledged that many of the proposed benefits are yet to be proven and may involve trade-offs that could negate the advantages. 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 The note emphasizes the importance of adapting regulations to both harness the benefits and mitigate the adverse effects of tokenization. As the technology evolves, policymakers and regulators will need to closely monitor developments and adjust frameworks accordingly to ensure financial stability while fostering innovation. 💡 To sum up, while tokenization presents promising opportunities for improving financial market efficiency, it also introduces new challenges that require careful consideration and proactive regulatory approaches to manage potential risks effectively. Itai Agur Germán V. Tommaso Mancini Maria Soledad Martinez Peria Brandon Tan Harry Lars Ghillemyn Tristan Husson Loïck K. Julien Choveton-Caillat Güneş Ünüvar Dr. Eric Falk Filedgr Daniel R.