According to CoinMeta, the European Securities and Markets Authority (ESMA) launched a public consultation on October 9th regarding the use of tokenized collateral by central counterparties. The consultation focuses on assessing whether such collateral can be accessed, transferred, and converted into liquidity in a timely manner during market stress or in the event of default by clearing members. The review will cover asset tokenization mappings and assets issued directly on distributed ledgers, and will assess risks related to liquidity, legal enforceability, customer asset segregation, and settlement finality. The consultation period ends on January 15, 2027, after which ESMA will evaluate in the first quarter of next year whether further regulatory or supervisory measures are necessary.