39 financial firms urge EU to speed up DLT pilot updates

39 financial and tech firms urge the EU to fast-track DLT pilot rules, separate them from broader laws, and raise transaction caps to keep pace with the U.S.

A coalition of 39 financial and technology organizations, including Nasdaq and Boerse Stuttgart Group, has urged the European Union to accelerate updates to its Distributed Ledger Technology (DLT) pilot regime. In a joint letter to the European Commission and Parliament, the group requested that the DLT pilot be separated from the broader financial legislative package. They argue this would allow for more agile and responsive regulation. The signatories warned that the current lengthy legislative process could cause Europe to fall behind the United States in digital finance, as the U.S. has already advanced its regulatory framework for tokenized assets. The coalition also called for removing asset class restrictions, raising the transaction volume cap to 150 billion euros, and eliminating license expiry dates. They emphasized that these changes would enable the development of real markets, not just limited trials, and help maintain Europe's competitiveness in the rapidly evolving digital asset sector.