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Group of 39 firms urge EU to fast-track DLT rules, warn of lagging the US
TL;DR
39 European financial firms have urged the EU to expedite blockchain regulation changes, warning that delays could hinder the region's competitiveness against the US in tokenized finance.
Key points
- 39 European firms urge EU to fast-track blockchain rules
- Delays could hinder Europe's competitiveness in tokenized finance
- DLT Pilot Regime allows testing of blockchain trading under real conditions
Mentioned in this story
NasdaqBoerse StuttgartEuropean CommissionAdan
A group of European financial companies and industry bodies have urged European Union officials and lawmakers to fast-track changes to blockchain rules, warning the region risks falling behind the US in tokenized finance.
In a joint letter on Tuesday, 39 signatories, including Nasdaq and Boerse Stuttgart, called on the European Commission and Parliament to carve out the DLT Pilot Regime from a broader legislative package and review it as a standalone law, according to a copy of the letter shared by crypto association Adan.
The group argued that folding the regime into the wider Market Integration and Supervision Package could delay reforms needed to keep pace with global developments. “Negotiations are likely to be lengthy,” the letter, addressed to Financial Services Commissioner Maria Luis Albuquerque, said, adding that delays “risk dampening Europe’s momentum in DLT adoption.”
The DLT Pilot Regime is an EU framework launched in 2023 that lets financial firms test blockchain-based trading and settlement of assets like stocks and bonds under real market conditions. It acts as a regulatory sandbox, allowing temporary exemptions from certain rules so companies can experiment with tokenized finance.
Related: Europe’s Bitcoin treasury playbook won’t be a copy of Strategy: PBW 2026
EU firms push to expand DLT Pilot Regime limits
The group is pushing for a series of changes to the current pilot regime, including expanding the range of eligible assets, raising the overall volume cap to 150 billion euros ($176 billion), removing time limits on licenses and the removal of time limitation on licences. “These pragmatic adjustments enjoy broad support among market participants across Europe,” the letter claims.
Under the current regime, only relatively small financial products can be tested on blockchain systems, including shares from companies valued under $588 million, bonds with issuance sizes below $1.17 billion and investment funds with assets under $588 million.
Q&A
What is the DLT Pilot Regime and why is it important?
The DLT Pilot Regime is an EU framework launched in 2023 that allows financial firms to test blockchain-based trading and settlement, serving as a regulatory sandbox for tokenized finance.
Who are the firms advocating for faster DLT rules in the EU?
The group includes 39 firms such as Nasdaq and Boerse Stuttgart, who are calling on EU officials to separate the DLT Pilot Regime from a broader legislative package.
What risks does the EU face by delaying DLT regulation reforms?
Delays in DLT regulation reforms could dampen Europe's momentum in adopting distributed ledger technology and cause the region to fall behind the US in tokenized finance.
