European tokenisation companies urged EU lawmakers to amend the DLT Pilot Regime, warning that current limits risk pushing regulated onchain markets toward the United States as tokenisation accelerates.
In a joint letter ahead of a parliamentary debate, firms including Securitise, 21X and Boerse Stuttgart Group said asset caps, volume limits and time-bound licences are preventing scale.
“Without timely action on the DLT Pilot Regime, the EU risks losing market relevance,”
The companies wrote, warning that delayed reforms could create a “critical strategic vulnerability” as global liquidity shifts.
The group called for a narrow technical update rather than deregulation, proposing higher issuance caps, a broader asset scope and removal of the six-year licence limit while keeping investor protections intact.
They argued the changes could be implemented quickly through a standalone fix without reopening the EU’s broader Market Integration and Supervision Package.
The warning comes as US regulators move faster, with the Securities and Exchange Commission clarifying custody and settlement rules for tokenised securities in late 2025.
US exchanges including Nasdaq and New York Stock Exchange have since advanced plans to support tokenised stocks and near-instant blockchain-based settlement.