Nasdaq and other institutions urge the European Union to cancel or significantly raise the cap on the tokenized securities pilot program.

According to CoinDesk, financial and crypto industry institutions, including Nasdaq, the Stuttgart Stock Exchange, the French digital asset association Adan, the Crypto Innovation Committee, and the European Ethereum Institute, have written to the European Council and the European Parliament, urging the EU to remove the size cap on tokenized security platforms or raise it from the 100 billion euros proposed by the European Commission to at least 1.5 trillion euros.