Eight cryptocurrency companies warn of EU tokenization regulations, saying they will fall behind the US.

Eight cryptocurrency companies, including Securitize, have warned that the EU could fall behind the US in tokenization regulation. According to CoinDesk, the companies released a statement arguing that current regulations hinder the EU's progress amidst the intensifying competition to modernize capital markets using blockchain. "While Europe is deliberating, the US has already acted and is on track to dominate the digital rail network of the future global economy," they wrote. "The US will have a preemptive advantage before the EU's Comprehensive Market Integration and Supervision Package (MISP) fully enters into force in 2030. Global liquidity will not wait for the EU until 2030; it will permanently shift to the US market. Regulation, not technology, will undermine the euro's competitiveness." The letter included proposals such as: removing restrictions on tokenizable assets; increasing trading volume caps from the pilot project's €6-9 billion to €100-150 billion; and removing the six-year license expiration limit. The letter was co-authored by Securitize, 21X, Boerse Stuttgart Group's Seturion, DCV, Lise, OpenBrick, STX and Axiology.