Décret n° 2023-421 du 31 mai 2023 portant adaptation du droit des titres au règlement européen dit « régime pilote »

The present Decree No. 2023-421 of 31 May 2023 concerns the adaptation of French law to the European pilot regime for market infrastructures based on DLT. The decree modifies the French Monetary and Financial Code to ensure compliance with the European Regulation (EU) 2022/858.
The decree applies to credit institutions, investment firms, issuers and central securities depositories. The decree modifies several articles of the Monetary and Financial Code, including R. 225-84, R. 225-88, R. 225-61, R. 742-1, R. 743-1, and R. 744-1. The modifications concern the recognition of participation in a DLT-based market infrastructure, the issuance of electronic attestations of participation, and the use of DLT-based market infrastructures for voting, proxy, and admission card requests.
The decree also introduces the concept of a „DLT market infrastructure“ and specifies the conditions under which such an infrastructure can issue electronic attestations of participation. The decree also amends the provisions relating to the recognition of participation in a market infrastructure based on DLT.
The decree entered into force the day after its publication, hence on 3 June 2023.