GDF Response to The European Commission Consultation on Integration of EU Capital Markets
GDF was grateful for the opportunity to engage with the European Commission (EC) through their consultations as well as through their engagement with industry through roundtables, public statements, and active dialogue.
Overall, GDF is supportive of the aim of the proposals within the EC Consultation on Integration of EU Capital Markets. GDF developed this response with our EU Policy and Regulatory Working group and our key points of feedback on questions within the consultations are as follows:
1. DLT Pilot Regime (DLTPR) Reform is Critical
2. Business Certainty and Exit Pathways
3. Principles-Based Approach Favoured
4. Use of EMTs (Stablecoins) in Settlement
5. Operational and Prudential Risks of Permissionless Blockchains
6. Barriers to Asset Tokenisation
7. Clarification and Expansion of FCD (Financial Collateral Directive)
8. Interoperability and Standardisation
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