European financial groups seek faster DLT pilot rule changes in EU
European financial firms and technology groups are pressing for faster changes to the EU's blockchain pilot framework as the region tries to keep pace with digital finance developments. The industry coalition says separating the DLT pilot regime from a wider review of 18 financial laws would allow quicker revisions and support the creation of larger tokenized asset markets.
Highlights
- Boerse Stuttgart Group, Nasdaq, and 37 others urge the European Commission and Parliament to separate the DLT pilot regime from the broader legislative package.
- The coalition seeks practical changes including raising transaction limits to 150 billion euros ($176 billion), expanding eligible assets, and removing license expiry dates.
- Industry warns that slow EU reform amid U.S. advancements like the Genius Act risks Europe's competitiveness in digital asset markets.
Industry push to revise the pilot regime
As first reported by Bloomberg, a group of 39 signatories including Boerse Stuttgart Group, Nasdaq and fintech associations from several EU countries is urging the European Commission and European Parliament to carve the distributed ledger technology pilot regime out of a broader legislative package.The DLT pilot, in place since 2023, allows firms to test the trading and settlement of tokenized assets such as shares and bonds on blockchain systems. The coalition argues that reviewing the regime separately would make it easier to update rules that are now moving through the EU's legislative process alongside 18 financial laws, a route that industry groups warn could take years.
The signatories are seeking a series of practical adjustments to widen the regime's commercial use. These include expanding the range of eligible assets, increasing transaction limits to 150 billion euros, or $176 billion, and scrapping expiry dates on licenses so firms can build markets beyond small-scale trials.
Competitive pressure from the U.S. market
The request comes as policymakers in the U.S. shape new rules for the sector, including the Genius Act, which is intended to bring crypto further into mainstream finance. Industry participants warn that a slower EU process could leave Europe behind as other markets move more quickly to establish workable frameworks for digital assets.The European Commission has indicated that it prefers to advance the full legislative package together as part of a broader effort to channel savings into investment. That position sets up a tension between the industry's push for targeted, faster rule changes and the bloc's wider legislative timetable.
Our earlier article on the UK’s payments-regulation overhaul explained how HM Treasury is consulting on a single framework that would cover traditional payments alongside tokenized payments and stablecoins. We also noted the push to cut administrative burdens for stablecoin payment providers and to clarify how rules should apply when AI agents transact, as part of the UK’s broader drive to become a digital-assets hub.
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