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FR – Publication of Order No. 2017-1674 (the Blockchain Order)

18/05/2018

On 9 December 2017, Order No. 2017-1674 was published which allows registration of an issuance or a transfer of financial securities in a “shared electronic device" ( DEEP), a device based on blockchain technology.

On 9 December 2017, Order No. 2017-1674 was published which allows registration of an issuance or a transfer of financial securities in a “shared electronic device" ( DEEP), a device based on blockchain technology. It has the same effects as recording in financial securities accounts, in particular in terms of recognition of the transfer of property. The order covers categories of securities that are not compulsorily admitted to the Central Securities Depositary operations: (i) negotiable debt securities; (ii) units or shares of collective investment institutions; and (iii) capital shares issued by joint stock companies and debt securities other than negotiable debt securities, provided that they are not traded on a trading platform. The provisions of this Order will come into force on the publication of a decree and no later than 1 July 2018.

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