30+ European digital asset market participants call for DLT Pilot Regime reform

Nasdaq, Boerse Stuttgart Group, Cashlink along with 30+ European market participants just called for urgent reform of the EU’s DLT Pilot Regime. Key points👇 

1️⃣ Remove asset restrictions to allow all financial instruments on DLT

Currently DLTPR only allows shares, bonds and UCIs. 

2️⃣ Increase total issuance cap to €100–150bn

Currently DLTPR only allows ~€6 billion aggregate market value caps across DLT infrastructures for most instruments (baseline cap)

3️⃣ Remove per-instrument caps

Currently DLTPR only allows for:

- Equities (shares) with market cap ≤ €500 million

- Bonds / debt securities with issuance size ≤ €1 billion

- Fund units (UCIs) with AUM ≤ €500 million

Anything larger isn't allowed to be admitted into the DLT sandbox environment.

4️⃣ Remove time limits on licenses

DLTPR operates as a temporary sandbox regime. Authorization is granted for up to 6 years total, with 3 years initially and 3 years possible extension.

There is no guarantee of continuation. Uncertainty around regulatory treatment post-expiry creates investment hesitation.

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