Blockchain for Europe has joined ADAN, Alastria, Bundesblock, the Crypto Council for Innovation (CCI), the Electronic Money Association (EMA), the European Ethereum Institute, INATBA, the Nordic Blockchain Association and UBIK in an open letter to the Members of the European Parliament and Member State representatives negotiating the Market Integration and Supervision Package (MISP). The signatories call on co-legislators to ensure that e-money tokens (EMTs) authorised under MiCA can play a meaningful role in Europe’s tokenised capital markets, warning that proposed restrictions could slow tokenisation in the EU, push on-chain liquidity to other jurisdictions and weaken the international role of the euro.

MiCA-authorised EMTs should remain eligible settlement assets under the CSDR, the DLT Pilot Regime and EMIR, alongside central bank money and tokenised commercial bank money. That eligibility should come without a significance requirement or a prefunding-only rule. EMTs should also be recognised as eligible collateral, and MiCA-authorised crypto-asset service providers should keep their role in DLT market infrastructure under a permanent regime.

Together, the signatories argue that these measures would support a European framework in which regulated euro stablecoins, tokenised securities and open settlement infrastructure can operate at scale and connect with global markets.