Digital Assets and Decentralized Finance: Tokenized Securities, DLT Infrastructure, Mica and Their Market Impact on European Capital Markets
This paper critically examines the impact of tokenization, decentralized finance (DeFi), and distributed ledger technology (DLT) infrastructures on the future of European capital markets, with a focus on the EU’s proposed Markets in Crypto-Assets Regulation (MiCA) and the DLT Pilot Regime. Drawing on theoretical perspe...