EU finance groups push to remove tokenized securities cap

EU finance groups push to remove tokenized securities cap

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A coalition of European financial and tokenization groups has urged EU lawmakers to remove a proposed 100 billion euro cap ($116.3 billion) on tokenized financial instruments or raise it to at least 500 billion euro.

7 and addressed to EU Council members and the European Parliament’s Economic and Monetary Affairs Committee, said the 500 billion euro threshold should serve as a baseline if lawmakers decide to retain a cap.

Among the groups signing the letter were Nasdaq, Boerse Stuttgart Group, Securitize, the European Ethereum Institute and Axiology.

The letter said some existing European projects already reach 350 billion euro in scale and plan further growth, arguing that the proposed 100 billion euro ceiling would be insufficient.

The groups contrasted the proposed EU limits with the US, where “a dominant settlement platform is enabled to tokenise US equities and other assets without volume caps,” which they said could cover as much as 150 trillion euro in assets.

The European Commission has proposed raising the current 6 billion euro limit to as much as 100 billion euro as part of its Market Integration and Supervision Package, which includes revisions to the Distributed Ledger Technology (DLT) Pilot Regime.

The DLT Pilot Regime, which took effect in 2023, allows financial firms to test blockchain-based trading and settlement of assets such as stocks and bonds under exemptions from certain EU financial rules.

The letter said the thresholds apply to the market value of financial instruments admitted to DLT infrastructure rather than their trading volume, making the proposed 100 billion euro cap relatively small compared with global equity markets.

Related: Tokenized RWA surge to $4T may push LINK to $200 by end-2030: Standard Chartered The letter follows months of pressure from financial and tokenization firms seeking changes to the EU’s DLT Pilot Regime.

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