Green paper proposal for a société anonyme tokenisée (sat) in luxembourg

Abstract

This article proposes the creation of a new Luxembourg company form, the Société Anonyme Tokenisée (SAT), which would natively use distributed ledger technology (DLT) for all shares and governance functions. The SAT would be a fully compliant legal entity under EU law, issue tokenised securities recognised as financial instruments, and enable smart contract-based governance. The proposal is based on Luxembourg’s progressive blockchain legislation and the need for corporate law to keep pace with technological innovation.