On 4 December 2025, the European Commission presented its Market Integration Package for EU financial markets.

At the European Decentralisation Institute, we see this as a real step forward. The package:
🔹 Treats distributed ledger technology as core market infrastructure, not a side experiment
🔹 Scales up the DLT Pilot so tokenisation can reach meaningful size
🔹 Moves toward a genuine single market for crypto asset service providers under the European Securities and Markets Authority (ESMA)

Our assessment in one line: this is a strong foundation, but it still builds a more digital version of yesterday’s market structure instead of the open, decentralised infrastructure Europe will need for the next decades.

In our new statement, we:

1. Support the progress on tokenisation and single supervision
2. Warn against creating a single chokepoint for Europe’s crypto economy
3. Call for a clear place in EU law for permissionless settlement layers and privacy-preserving, protocol-level compliance.

If Parliament and Council now add a role for permissionless settlement layers, privacy by design finance, and competition-sensitive supervision, Europe can do more than digitise the status quo. It can build a financial infrastructure that is open, innovative, and genuinely sovereign.