Market blocked in by volume caps on European DLT regime

Limited scope of pilot project risks holding back issuer and depository participation

Euro squeezed

Market participants are calling for higher volume thresholds for the European Union’s distributed ledger technology (DLT) pilot regime, which went live on March 23. Current restrictions may otherwise dampen the appetite for participation among potential token issuers and financial market infrastructures (FMIs).

The regime, crafted by the European Securities and Markets Authority (Esma), is intended to foster innovation by granting limited exemptions from the EU’s Markets in Financial Instruments

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