Several tokenization and market infrastructure operators, including Securitize, have collectively addressed EU policymakers, warning that current restrictions in the EU's distributed ledger technology (DLT) pilot regime may drive liquidity and market activity towards the United States. According to PANews, signatories of the letter include entities such as 21X, central securities depositories, and the Stuttgart Exchange Group.
The letter highlights that while the EU's 'Market Integration and Regulation Scheme' establishes a sound long-term framework, its implementation timeline delays crucial reforms until at least 2030. Meanwhile, the DLT pilot regime's narrow scope of eligible assets, low transaction volume caps (currently set at 60-90 billion euros), and a six-year license duration are hindering the scaling of launched products, as the U.S. rapidly advances in on-chain market infrastructure.
These companies are urging the EU to enact 'swift amendments' to the pilot regime within six months, either through independent technical revisions or minor legislative proposals. Suggested changes include broadening the range of eligible assets, increasing transaction volume caps to 100-150 billion euros, and removing the six-year validity limit on DLT market infrastructure licenses.