Nasdaq, Boerse Stuttgart, others ask EU to remove or increase cap in tokenization trial
The coalition warned that the current limit is too low, noting some existing European projects already exceed it.
Asanat Analysis — Why it matters
Major exchanges and infrastructure providers are escalating pressure on EU regulators to relax constraints on tokenization pilots, signaling that the regulatory sandbox has become operationally restrictive. The fact that existing projects already exceed the cap suggests the EU's caution has decoupled from market reality—the infrastructure is advancing faster than the guardrails. This coalition move (Nasdaq + Boerse Stuttgart) carries institutional weight; these aren't DeFi natives but traditional finance gatekeepers, indicating tokenization has shifted from fringe experiment to strategic business line.
The timing matters: EU regulators designed caps to contain tail risk during experimentation, but removing or raising them would represent a confidence vote in the tech's stability and the institutional players' risk management. However, the EU's broader approach to crypto regulation (MiCA, stablecoin rules) emphasizes containment over experimentation speed. A compromise—raising rather than removing caps—keeps the narrative of regulatory control intact while accommodating legitimate market demand. Watch whether this pressure succeeds before other jurisdictions (Singapore, Dubai) leapfrog on tokenization infrastructure.