According to Odaily, the Association for Financial Markets in Europe (AFME) has published a series of papers on digital finance and distributed ledger technology (DLT), including content on tokenization. The association also released two policy roadmaps aimed at expanding the scale of DLT in the capital markets of the European Union and the United Kingdom. Currently, DLT projects are in the experimental phase, but existing regulations are hindering their broader application. Half of AFME's eight proposals are related to the Central Securities Depositories Regulation (CSDR). The association believes that DLT settlement systems (DLT SS) should be allowed to operate within a pilot regime without the full authorization of central securities depositories (CSD).