3.4. Approved Jurisdictions

Given the current technological conditions, and the nature of the Eligible Collateral proposed by the Adopted Guidance, any form of collateral shall only be recognized as Eligible Collateral by the Validator if the SPV is located in one of the jurisdictions listed below:

• Luxembourg

As for other elements of the Adopted Guidance, the list of Approved Jurisdictions (as described above) can be amended any time through a Governance vote. In case the list is amended, Actors are expected to ensure compliance with and enforceability of the rules set out in the Adopted Guidance in such a new jurisdiction.

Candidates for Approved Jurisdictions shall comply with the following minimum requirements: