Recent Legislative Support for Celestial Resource Extraction Goes a Long Way Towards Enabling an In-Space Economy

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The U.S. is not the only country to seek to protect commercial interests in space—and in fact, the SPACE Act of 2015 paved the way for similar legislation across the pond.

In mid-2017, Luxembourg’s Chamber of Deputies voted nearly unanimously to allow private companies full legal rights to any resources they extract off-planet, underscoring the nation’s full-throated support for space mining initiatives.

Luxembourg’s new law, which took effect August 1st, is the first of its kind in Europe and effectively establishes the tiny country as the space mining hub of the European Union.

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