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A group of European tokenisation and market-infrastructure operators has urged EU institutions to accelerate targeted amendments to the bloc’s DLT Pilot Regime, arguing that current constraints are limiting the ability of regulated on-chain markets to scale, according to an open letter published on 5 February 2026 and reported by Cointelegraph via TradingView.
The letter asks policymakers to remove the instrument-type and size restrictions in Article 3(1), raise the regime’s aggregate cap (citing today’s EUR 6–9bn levels), and eliminate the DLT Pilot’s six-year limitation on specific permissions by amending provisions including Articles 8(11), 9(11) and 10(11). Those constraints are set out in the current DLT Pilot Regime regulation, Regulation (EU) 2022/858.
Signatories include several firms that appear on ESMA’s list of authorised DLT market infrastructures—among them CSD Prague (Centrální depozitář cenných papírů, a.s.), 21X AG, UAB Axiology DLT, LISE SA and Securitize Europe Brokerage and Markets SV SA other entities named in the letter, including Seturion (by Börse Stuttgart Group), Bit2Me STX and OpenBrick.
The DLT Pilot Regime has applied since 23 March 2023 and provides a time-limited EU framework for DLT-based multilateral trading facilities, settlement systems, and combined trading-and-settlement systems to handle crypto-assets that qualify as MiFID II financial instruments, under defined thresholds and exemptions. Separately, the European Commission’s Market Integration and Supervision Package proposal includes amendments to Regulation (EU) 2022/858 aimed at increasing the regime’s scale and flexibility and addressing the durability of permissions; the signatories’ letter calls for adopting a subset of those changes quickly via a smaller legislative vehicle.
In practice, this development is relevant to issuers and venues seeking to admit and settle tokenised financial instruments—including structures used for real-estate-linked securities—within the DLT Pilot’s current eligibility and scale limits. The letter also references U.S. regulatory steps as a comparator, pointing to the SEC staff no-action letter concerning DTC’s DTCC Tokenization Services and DTCC’s description of that initiative.
