EU Tokenization Pilot Limit Under Fire as Industry Pushes for €1.5 Trillion Cap
Organizations including Nasdaq and Boerse Stuttgart have expressed their objection to the proposed €100 billion limit in the EU's tokenization pilot. The coalition, which also includes Adan, the Crypto Council for Innovation, and the European Ethereum Institute, argues that this cap would restrict the growth of tokenized financial products.
In a joint letter sent to the European Council and the European Parliament, industry representatives stated that the new limit proposed by the European Union would be insufficient. They requested that the current €6 billion cap be either completely removed or raised to at least €1.5 trillion, which is 15 times higher than the Commission's proposal.
The organizations also opposed granting higher limits to central securities depositories compared to other blockchain-based market operators. They argued that such a practice could put new service providers at a disadvantage and requested that if the limit is maintained, the Commission should be able to increase this boundary as the market grows without a pre-determined upper limit.