Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May... (32023R1114)
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Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (Text with EEA relevance)
- REGULATION (EU) 2023/1114 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
- of 31 May 2023
- on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937
- (Text with EEA relevance)
- TITLE I
- SUBJECT MATTER, SCOPE AND DEFINITIONS
- Article 1
- Subject matter
- Article 2
- Scope
- Article 3
- Definitions
- TITLE II
- CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS
- Article 4
- Offers to the public of crypto-assets other than asset-referenced tokens or e-money tokens
- Article 5
- Admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens
- Article 6
- Content and form of the crypto-asset white paper
- Article 7
- Marketing communications
- Article 8
- Notification of the crypto-asset white paper and of the marketing communications
- Article 9
- Publication of the crypto-asset white paper and of the marketing communications
- Article 10
- Result of the offer to the public and safeguarding arrangements
- Article 11
- Rights of offerors and persons seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens
- Article 12
- Modification of published crypto-asset white papers and of published marketing communications
- Article 13
- Right of withdrawal
- Article 14
- Obligations of offerors and persons seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens
- Article 15
- Liability for the information given in a crypto-asset white paper
- TITLE III
- ASSET-REFERENCED TOKENS
- CHAPTER 1
- Authorisation to offer asset-referenced tokens to the public and to seek their admission to trading
- Article 16
- Authorisation
- Article 17
- Requirements for credit institutions
- Article 18
- Application for authorisation
- Article 19
- Content and form of the crypto-asset white paper for asset-referenced tokens
- Article 20
- Assessment of the application for authorisation
- Article 21
- Grant or refusal of the authorisation
- Article 22
- Reporting on asset-referenced tokens
- Article 23
- Restrictions on the issuance of asset-referenced tokens used widely as a means of exchange
- Article 24
- Withdrawal of the authorisation
- Article 25
- Modification of published crypto-asset white papers for asset-referenced tokens
- Article 26
- Liability of issuers of asset-referenced tokens for the information given in a crypto-asset white paper
- CHAPTER 2
- Obligations of issuers of asset-referenced tokens
- Article 27
- Obligation to act honestly, fairly and professionally in the best interest of the holders of asset-referenced tokens
- Article 28
- Publication of the crypto-asset white paper
- Article 29
- Marketing communications
- Article 30
- Ongoing information to holders of asset-referenced tokens
- Article 31
- Complaints-handling procedures
- Article 32
- Identification, prevention, management and disclosure of conflicts of interest
- Article 33
- Notification of changes to management body
- Article 34
- Governance arrangements
- Article 35
- Own funds requirements
- CHAPTER 3
- Reserve of assets
- Article 36
- Obligation to have a reserve of assets, and composition and management of such reserve of assets
- Article 37
- Custody of reserve assets
- Article 38
- Investment of the reserve of assets
- Article 39
- Right of redemption
- Article 40
- Prohibition of granting interest
- CHAPTER 4
- Acquisitions of issuers of asset-referenced tokens
- Article 41
- Assessment of proposed acquisitions of issuers of asset-referenced tokens
- Article 42
- Content of the assessment of proposed acquisitions of issuers of asset-referenced tokens
- CHAPTER 5
- Significant asset-referenced tokens
- Article 43
- Classification of asset-referenced tokens as significant asset-referenced tokens
- Article 44
- Voluntary classification of asset-referenced tokens as significant asset-referenced tokens
- Article 45
- Specific additional obligations for issuers of significant asset-referenced tokens
- CHAPTER 6
- Recovery and redemption plans
- Article 46
- Recovery plan
- Article 47
- Redemption plan
- TITLE IV
- E-MONEY TOKENS
- CHAPTER 1
- Requirements to be fulfilled by all issuers of e-money tokens
- Article 48
- Requirements for the offer to the public or admission to trading of e-money tokens
- Article 49
- Issuance and redeemability of e-money tokens
- Article 50
- Prohibition of granting interest
- Article 51
- Content and form of the crypto-asset white paper for e-money tokens
- Article 52
- Liability of issuers of e-money tokens for the information given in a crypto-asset white paper
- Article 53
- Marketing communications
- Article 54
- Investment of funds received in exchange for e-money tokens
- Article 55
- Recovery and redemption plans
- CHAPTER 2
- Significant e-money tokens
- Article 56
- Classification of e-money tokens as significant e-money tokens
- Article 57
- Voluntary classification of e-money tokens as significant e-money tokens
- Article 58
- Specific additional obligations for issuers of e-money tokens
- TITLE V
- AUTHORISATION AND OPERATING CONDITIONS FOR CRYPTO-ASSET SERVICE PROVIDERS
- CHAPTER 1
- Authorisation of crypto-asset service providers
- Article 59
- Authorisation
- Article 60
- Provision of crypto-asset services by certain financial entities
- Article 61
- Provision of crypto-asset services at the exclusive initiative of the client
- Article 62
- Application for authorisation as a crypto-asset service provider
- Article 63
- Assessment of the application for authorisation and grant or refusal of authorisation
- Article 64
- Withdrawal of authorisation of a crypto-asset service provider
- Article 65
- Cross-border provision of crypto-asset services
- CHAPTER 2
- Obligations for all crypto-asset service providers
- Article 66
- Obligation to act honestly, fairly and professionally in the best interests of clients
- Article 67
- Prudential requirements
- Article 68
- Governance arrangements
- Article 69
- Information to competent authorities
- Article 70
- Safekeeping of clients’ crypto-assets and funds
- Article 71
- Complaints-handling procedures
- Article 72
- Identification, prevention, management and disclosure of conflicts of interest
- Article 73
- Outsourcing
- Article 74
- Orderly wind-down of crypto-asset service providers
- CHAPTER 3
- Obligations in respect of specific crypto-asset services
- Article 75
- Providing custody and administration of crypto-assets on behalf of clients
- Article 76
- Operation of a trading platform for crypto-assets
- Article 77
- Exchange of crypto-assets for funds or other crypto-assets
- Article 78
- Execution of orders for crypto-assets on behalf of clients
- Article 79
- Placing of crypto-assets
- Article 80
- Reception and transmission of orders for crypto-assets on behalf of clients
- Article 81
- Providing advice on crypto-assets and providing portfolio management of crypto-assets
- Article 82
- Providing transfer services for crypto-assets on behalf of clients
- CHAPTER 4
- Acquisition of crypto-asset service providers
- Article 83
- Assessment of proposed acquisitions of crypto-asset service providers
- Article 84
- Content of the assessment of proposed acquisitions of crypto-asset service providers
- CHAPTER 5
- Significant crypto-asset service providers
- Article 85
- Identification of significant crypto-asset service providers
- TITLE VI
- PREVENTION AND PROHIBITION OF MARKET ABUSE INVOLVING CRYPTO-ASSETS
- Article 86
- Scope of the rules on market abuse
- Article 87
- Inside information
- Article 88
- Public disclosure of inside information
- Article 89
- Prohibition of insider dealing
- Article 90
- Prohibition of unlawful disclosure of inside information
- Article 91
- Prohibition of market manipulation
- Article 92
- Prevention and detection of market abuse
- TITLE VII
- COMPETENT AUTHORITIES, EBA AND ESMA
- CHAPTER 1
- Powers of competent authorities and cooperation between competent authorities, EBA and ESMA
- Article 93
- Competent authorities
- Article 94
- Powers of competent authorities
- Article 95
- Cooperation between competent authorities
- Article 96
- Cooperation with EBA and ESMA
- Article 97
- Promotion of convergence on the classification of crypto-assets
- Article 98
- Cooperation with other authorities
- Article 99
- Duty of notification
- Article 100
- Professional secrecy
- Article 101
- Data protection
- Article 102
- Precautionary measures
- Article 103
- ESMA temporary intervention powers
- Article 104
- EBA temporary intervention powers
- Article 105
- Product intervention by competent authorities
- Article 106
- Coordination with ESMA or EBA
- Article 107
- Cooperation with third countries
- Article 108
- Complaints-handling by competent authorities
- CHAPTER 2
- ESMA register
- Article 109
- Register of crypto-asset white papers, of issuers of asset-referenced tokens and e-money tokens, and of crypto-asset service providers
- Article 110
- Register of non-compliant entities providing crypto-asset services
- CHAPTER 3
- Administrative penalties and other administrative measures by competent authorities
- Article 111
- Administrative penalties and other administrative measures
- Article 112
- Exercise of supervisory powers and powers to impose penalties
- Article 113
- Right of appeal
- Article 114
- Publication of decisions
- Article 115
- Reporting of administrative penalties and other administrative measures to ESMA and EBA
- Article 116
- Reporting of infringements and protection of reporting persons
- CHAPTER 4
- Supervisory responsibilities of EBA with respect to issuers of significant asset-referenced tokens and significant e-money tokens and colleges of supervisors
- Article 117
- Supervisory responsibilities of EBA with respect to issuers of significant asset-referenced tokens and issuers of significant e-money tokens
- Article 118
- EBA crypto-asset committee
- Article 119
- Colleges for issuers of significant asset-referenced tokens and significant e-money tokens
- Article 120
- Non-binding opinions of the colleges for issuers of significant asset-referenced tokens and significant e-money tokens
- CHAPTER 5
- EBA’s powers and competences with respect to issuers of significant asset-referenced tokens and issuers of significant e-money tokens
- Article 121
- Legal privilege
- Article 122
- Request for information
- Article 123
- General investigative powers
- Article 124
- On-site inspections
- Article 125
- Exchange of information
- Article 126
- Administrative agreements on the exchange of information between EBA and third countries
- Article 127
- Disclosure of information from third countries
- Article 128
- Cooperation with other authorities
- Article 129
- Professional secrecy
- Article 130
- Supervisory measures by EBA
- Article 131
- Fines
- Article 132
- Periodic penalty payments
- Article 133
- Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
- Article 134
- Procedural rules for taking supervisory measures and imposing fines
- Article 135
- Hearing of the persons concerned
- Article 136
- Review by the Court of Justice
- Article 137
- Supervisory fees
- Article 138
- Delegation of tasks by EBA to competent authorities
- TITLE VIII
- DELEGATED ACTS
- Article 139
- Exercise of the delegation
- TITLE IX
- TRANSITIONAL AND FINAL PROVISIONS
- Article 140
- Reports on the application of this Regulation
- Article 141
- ESMA annual report on market developments
- Article 142
- Report on latest developments in crypto-assets
- Article 143
- Transitional measures
- Article 144
- Amendment to Regulation (EU) No 1093/2010
- Article 145
- Amendment to Regulation (EU) No 1095/2010
- Article 146
- Amendment to Directive 2013/36/EU
- Article 147
- Amendment to Directive (EU) 2019/1937
- Article 148
- Transposition of amendments to Directives 2013/36/EU and (EU) 2019/1937
- Article 149
- Entry into force and application
- ANNEX I
- DISCLOSURE ITEMS FOR THE CRYPTO-ASSET WHITE PAPER FOR CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS
- Part A: Information about the offeror or the person seeking admission to trading
- Part B: Information about the issuer, if different from the offeror or person seeking admission to trading
- Part C: Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper
- Part D: Information about the crypto-asset project
- Part E: Information about the offer to the public of crypto-assets or their admission to trading
- Part F: Information about the crypto-assets
- Part G: Information on the rights and obligations attached to the crypto-assets
- Part H: Information on the underlying technology
- Part I: Information on the risks
- ANNEX II
- DISCLOSURE ITEMS FOR THE CRYPTO-ASSET WHITE PAPER FOR AN ASSET-REFERENCED TOKEN
- Part A: Information about the issuer of the asset-referenced token
- Part B: Information about the asset-referenced token
- Part C: Information about the offer to the public of the asset-referenced token or its admission to trading
- Part D: Information on the rights and obligations attached to the asset-referenced token
- Part E: Information on the underlying technology
- Part F: Information on the risks
- Part G: Information on the reserve of assets
- ANNEX III
- DISCLOSURE ITEMS FOR THE CRYPTO-ASSET WHITE PAPER FOR AN E-MONEY TOKEN
- Part A: Information about the issuer of the e-money token
- Part B: Information about the e-money token
- Part C: Information about the offer to the public of the e-money token or its admission to trading
- Part D: Information on the rights and obligations attached to e-money tokens
- Part E: Information on the underlying technology
- Part F: Information on the risks
- ANNEX IV
- MINIMUM CAPITAL REQUIREMENTS FOR CRYPTO-ASSET SERVICE PROVIDERS
- ANNEX V
- LIST OF INFRINGEMENTS REFERRED TO IN TITLES III AND VI FOR ISSUERS OF SIGNIFICANT ASSET-REFERENCED TOKENS
- ANNEX VI
- LIST OF INFRINGEMENTS OF PROVISIONS REFERRED TO IN TITLE IV IN CONJUNCTION WITH TITLE III FOR ISSUERS OF SIGNIFICANT E-MONEY TOKENS
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