Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May…

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)

directive · European Union · 32023R1114

2358 provisions in 2698 nodes · cited by 11 instruments we hold · 16 provisions hand work to national law

Defined terms · All instruments · European Central Bank · Internet · Right of withdrawal · Unfair contract terms · access to information · accounting · administrative cooperation · advertising

Table

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)

Article 1 Subject matter

Article 3 Definitions

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

Subparagraph

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

Subparagraph

Article 12 Modification of published crypto-asset white papers and of published marketing communications

Subparagraph

Article 13 Right of withdrawal

Subparagraph

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

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

Subparagraph

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

Article 27 Obligation to act honestly, fairly and professionally in the best interest of the holders of asset-referenced tokens

Subparagraph

Article 28 Publication of the crypto-asset white paper

Subparagraph

Article 29 Marketing communications

Article 30 Ongoing information to holders of asset-referenced tokens

Subparagraph

Article 31 Complaints-handling procedures

Subparagraph

Article 32 Identification, prevention, management and disclosure of conflicts of interest

Article 33 Notification of changes to management body

Subparagraph

Article 34 Governance arrangements

Article 35 Own funds requirements

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

Subparagraph

Article 41 Assessment of proposed acquisitions of issuers of asset-referenced tokens

Subparagraph

Article 42 Content of the assessment of proposed acquisitions of issuers of 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

Subparagraph

Article 45 Specific additional obligations for issuers of significant asset-referenced tokens

Article 46 Recovery plan

Article 47 Redemption plan

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

Subparagraph

Article 50 Prohibition of granting interest

Subparagraph

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

Subparagraph

(a)

(b)

Article 55 Recovery and redemption plans

Subparagraph

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

Subparagraph

Article 58 Specific additional obligations for issuers of e-money tokens

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

Subparagraph

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

Article 66 Obligation to act honestly, fairly and professionally in the best interests of clients

Subparagraph

Article 67 Prudential requirements

Article 68 Governance arrangements

Article 69 Information to competent authorities

Subparagraph

Article 70 Safekeeping of clients’ crypto-assets and funds

Article 71 Complaints-handling procedures

Subparagraph

Article 72 Identification, prevention, management and disclosure of conflicts of interest

Article 73 Outsourcing

Article 74 Orderly wind-down of crypto-asset service providers

Subparagraph

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

Subparagraph

Article 78 Execution of orders for crypto-assets on behalf of clients

Subparagraph

Article 79 Placing of crypto-assets

Article 80 Reception and transmission of orders for crypto-assets on behalf of clients

Subparagraph

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

Article 83 Assessment of proposed acquisitions of crypto-asset service providers

Subparagraph

Article 84 Content of the assessment of proposed acquisitions of crypto-asset service providers

Article 85 Identification of significant crypto-asset service providers

Article 86 Scope of the rules on market abuse

Subparagraph

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

Subparagraph

Article 91 Prohibition of market manipulation

Article 92 Prevention and detection of market abuse

Article 93 Competent authorities

Subparagraph

Article 94 Powers of competent authorities

Article 95 Cooperation between competent authorities

Article 96 Cooperation with EBA and ESMA

Subparagraph

Article 97 Promotion of convergence on the classification of crypto-assets

Subparagraph

Article 98 Cooperation with other authorities

Subparagraph

Article 99 Duty of notification

Subparagraph

Article 100 Professional secrecy

Subparagraph

Article 101 Data protection

Subparagraph

Article 102 Precautionary measures

Subparagraph

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

Subparagraph

Article 107 Cooperation with third countries

Subparagraph

Article 108 Complaints-handling by competent authorities

Subparagraph

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

Subparagraph

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

Subparagraph

Article 116 Reporting of infringements and protection of reporting persons

Subparagraph

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

Subparagraph

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

Article 121 Legal privilege

Subparagraph

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

Subparagraph

Article 127 Disclosure of information from third countries

Subparagraph

Article 128 Cooperation with other authorities

Subparagraph

Article 129 Professional secrecy

Subparagraph

Article 130 Supervisory measures by EBA

Article 132 Periodic penalty payments

Article 133 Disclosure, nature, enforcement and allocation of fines and periodic penalty payments

Subparagraph

Article 134 Procedural rules for taking supervisory measures and imposing fines

Subparagraph

Article 135 Hearing of the persons concerned

Subparagraph

Article 136 Review by the Court of Justice

Subparagraph

Article 137 Supervisory fees

Subparagraph

Article 138 Delegation of tasks by EBA to competent authorities

Article 139 Exercise of the delegation

Subparagraph

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

Subparagraph

Article 145 Amendment to Regulation (EU) No 1095/2010

Subparagraph

Article 146 Amendment to Directive 2013/36/EU

Article 147 Amendment to Directive (EU) 2019/1937

Subparagraph

‘(xxii)

Article 148 Transposition of amendments to Directives 2013/36/EU and (EU) 2019/1937

Subparagraph

Article 149 Entry into force and application

Subparagraph

Note

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

10.

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

10.

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

10.

11.

12.

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

Table

ANNEX V

LIST OF INFRINGEMENTS REFERRED TO IN TITLES III AND VI FOR ISSUERS OF SIGNIFICANT ASSET-REFERENCED TOKENS

Table

ANNEX VI

LIST OF INFRINGEMENTS OF PROVISIONS REFERRED TO IN TITLE IV IN CONJUNCTION WITH TITLE III FOR ISSUERS OF SIGNIFICANT E-MONEY TOKENS

Table