BaFin

In April 2015, the European Securities and Markets Authority ESMA began a consultation that looks inter alia at the perception among market participants of how DLT works and how it can be deployed both within and outside of virtual currencies. The consultation served as a basis for a further analysis of this technology and examined the question of whether regulatory action may be required. This article explains how DLT works, how it can be applied and what effect it may have on the financial market.