Tokenisation : L’Europe à la Croisée de L’innovation et de la Souveraineté Financière (Tokenisation: Europe at the Crossroads of Innovation and Financial Sovereignty), Option Droit et Affaires

Option Droit et Affaires spoke with partner Hubert de Vauplane about the legal and regulatory implications of financial instrument tokenisation in Europe, including its impact on market infrastructure and financial sovereignty.

The article explores how existing EU and French legal frameworks distinguish between financial instruments and cryptoassets, as well as the challenges posed by distributed ledger technology. Hubert emphasized that classification depends on the characteristics of the instrument rather than the technology used, noting that, “In case of doubt, the designation as a financial instrument prevails over that of a cryptoasset.” He also highlighted risks tied to non-European infrastructure dominance and the need for regulatory evolution to address liability, governance, and increased litigation exposure associated with smart contracts.

Read the full Option Droit et Affaires article (in French) >>