European Finance Groups Urge EU to Scrap Tokenization Cap
The EU’s Distributed Ledger Technology Pilot Regime, in force since March 23, 2023, lets operators test blockchain-based trading and settlement of tokenized stocks, bonds and other financial instruments under exemptions from some existing rules. The European Commission has proposed lifting the current €6 billion ceiling to €100 billion, but the industry says that threshold would still be too small to support viable market infrastructure and could push investment and liquidity toward the United States.
In a letter dated Sept. 7, 2026, French digital-asset association Adan and 27 European partners urged the Council of the European Union and the European Parliament’s Committee on Economic and Monetary Affairs to remove the cap or raise it to at least €500 billion. Signatories included Nasdaq, Boerse Stuttgart Group, Securitize, the European Ethereum Institute and Axiology. The coalition said existing European projects already reach €350 billion and plan further expansion, making the proposed €100 billion limit a constraint on the bloc’s DLT competitiveness.
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The history behind this eventNasdaq, Boerse Stuttgart Urge EU to Lift Tokenisation Cap
The EU’s Distributed Ledger Technology Pilot Regime, in force since 2023, lets market operators test the trading and settlement of tokenised securities under targeted regulatory exemptions. The framework currently caps the aggregate value of securities admitted to a DLT venue at €6 billion. While designed to contain risk during experimentation, the ceiling has discouraged institutional-scale participation, according to the industry, potentially leaving Europe behind faster-moving markets such as the United States.
Nasdaq, Boerse Stuttgart Group, Axiology and other market-infrastructure firms have urged the European Parliament and Council to eliminate the cap, according to reports published on Sept. 9, 2026. If a ceiling remains, they want a €1.5 trillion baseline and authority for the European Commission to raise it as markets grow. The Commission proposed in December 2025 to lift the limit from €6 billion to €100 billion, but the coalition said some existing European projects already reach €350 billion, making the proposed threshold too restrictive.
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