Table of Contents
Title I: SUBJECT MATTER, SCOPE AND DEFINITIONS
Articles 1 – 3
Title II: CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS
Articles 4 – 15
- Art. 4Offers to the public of crypto-assets other than asset-referenced tokens or e-money tokens
- Art. 5Admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens
- Art. 6Content and form of the crypto-asset white paper
- Art. 7Marketing communications
- Art. 8Notification of the crypto-asset white paper and of the marketing communications
- Art. 9Publication of the crypto-asset white paper and of the marketing communications
- Art. 10Result of the offer to the public and safeguarding arrangements
- Art. 11Rights of offerors and persons seeking admission to trading after publication of the crypto-asset white paper
- Art. 12Modification of published crypto-asset white papers and marketing communications
- Art. 13Right of withdrawal
- Art. 14Obligations of offerors, persons seeking admission to trading and operators of trading platforms
- Art. 15Liability for the information given in a crypto-asset white paper
Title III: ASSET-REFERENCED TOKENS
Articles 16 – 47
Chapter 1: Authorisation to offer asset-referenced tokens to the public and to seek their admission to trading
- Art. 16Authorisation
- Art. 17Requirements for credit institutions
- Art. 18Application for authorisation
- Art. 19Content and form of the crypto-asset white paper for asset-referenced tokens
- Art. 20Assessment of the application for authorisation
- Art. 21Grant or refusal of authorisation
- Art. 22Reporting on asset-referenced tokens by competent authorities to EBA
- Art. 23Restrictions on the issuance of asset-referenced tokens
- Art. 24Withdrawal of the authorisation
- Art. 25Modification of published crypto-asset white papers for asset-referenced tokens
- Art. 26Liability 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
- Art. 27Obligation to act honestly, fairly and professionally
- Art. 28Publication of the crypto-asset white paper
- Art. 29Marketing communications
- Art. 30Ongoing information to holders of asset-referenced tokens
- Art. 31Complaints-handling procedures
- Art. 32Identification, prevention, management and disclosure of conflicts of interest
- Art. 33Notification of changes to the management body
- Art. 34Governance arrangements
- Art. 35Own funds requirements
Chapter 3: Reserve of assets
Chapter 4: Acquisitions of issuers of asset-referenced tokens
Chapter 5: Significant asset-referenced tokens
Chapter 6: Recovery and redemption plans
Title IV: E-MONEY TOKENS
Articles 48 – 58
Chapter 1: Requirements to be met by all issuers of e-money tokens
- Art. 48Requirements for offers to the public and admission to trading of e-money tokens
- Art. 49Issuance and redeemability of e-money tokens
- Art. 50Prohibition of granting interest
- Art. 51Content and form of the crypto-asset white paper for e-money tokens
- Art. 52Liability of issuers of e-money tokens for the information given in a crypto-asset white paper
- Art. 53Marketing communications
- Art. 54Investment of funds received in exchange for e-money tokens
- Art. 55Recovery and redemption plans
Title V: AUTHORISATION AND OPERATING CONDITIONS FOR CRYPTO-ASSET SERVICE PROVIDERS
Articles 59 – 85
Chapter 1: Authorisation of crypto-asset service providers
- Art. 59Authorisation of crypto-asset service providers
- Art. 60Provision of crypto-asset services by certain financial entities
- Art. 61Provision of crypto-asset services on an exclusive basis
- Art. 62Application for authorisation
- Art. 63Assessment of the application for authorisation of crypto-asset service providers
- Art. 64Withdrawal of authorisation
- Art. 65Cross-border provision of crypto-asset services
Chapter 2: Obligations for all crypto-asset service providers
- Art. 66Obligation to act honestly, fairly and professionally
- Art. 67Prudential requirements
- Art. 68Governance arrangements
- Art. 69Information to clients
- Art. 70Safekeeping of clients' crypto-assets and funds
- Art. 71Complaints-handling procedures
- Art. 72Identification, prevention, management and disclosure of conflicts of interest
- Art. 73Outsourcing
- Art. 74Orderly wind-down of crypto-asset service providers
Chapter 3: Obligations for specific crypto-asset services
- Art. 75Providing custody and administration of crypto-assets on behalf of clients
- Art. 76Operation of a trading platform for crypto-assets
- Art. 77Exchange of crypto-assets for funds or other crypto-assets
- Art. 78Execution of orders for crypto-assets on behalf of clients
- Art. 79Placing of crypto-assets
- Art. 80Reception and transmission of orders for crypto-assets on behalf of clients
- Art. 81Providing advice on crypto-assets and providing portfolio management of crypto-assets
- Art. 82Providing transfer services for crypto-assets on behalf of clients
Chapter 4: Acquisition of crypto-asset service providers
Chapter 5: Significant crypto-asset service providers
Title VI: PREVENTION AND PROHIBITION OF MARKET ABUSE INVOLVING CRYPTO-ASSETS
Articles 86 – 92
- Art. 86Scope of the rules on market abuse
- Art. 87Inside information
- Art. 88Public disclosure of inside information
- Art. 89Prohibition of insider dealing
- Art. 90Prohibition of unlawful disclosure of inside information
- Art. 91Prohibition of market manipulation
- Art. 92Prevention and detection of market abuse
Title VII: COMPETENT AUTHORITIES, EBA AND ESMA
Articles 93 – 138
Chapter 1: Powers of competent authorities and cooperation
- Art. 93Competent authorities
- Art. 94Powers of competent authorities
- Art. 95Cooperation between competent authorities
- Art. 96Cooperation with EBA and ESMA
- Art. 97Promotion of convergence
- Art. 98Cooperation with other authorities
- Art. 99Duty of notification
- Art. 100Professional secrecy
- Art. 101Data protection
- Art. 102Precautionary measures by competent authorities of host Member States
- Art. 103ESMA temporary intervention measures
- Art. 104EBA temporary intervention measures
- Art. 105Product intervention by competent authorities
- Art. 106Coordination with single resolution board and relevant resolution authorities
- Art. 107Cooperation with third countries
- Art. 108Complaints-handling by competent authorities
Chapter 2: ESMA register
Chapter 3: Administrative penalties and measures
- Art. 111Administrative penalties and other administrative measures
- Art. 112Exercise of supervisory powers and imposition of penalties
- Art. 113Right of appeal
- Art. 114Publication of decisions
- Art. 115Reporting of penalties and other administrative measures to EBA and ESMA
- Art. 116Reporting of breaches and protection of reporting persons
Chapter 4: Supervisory measures and colleges
Chapter 5: EBA's powers and competences in relation to supervision of issuers of significant asset-referenced tokens and issuers of significant e-money tokens
- Art. 121Legal privilege
- Art. 122Request for information
- Art. 123General investigations
- Art. 124On-site inspections
- Art. 125Exchange of information
- Art. 126Administrative penalties and other administrative measures applicable to issuers of significant asset-referenced tokens and issuers of significant e-money tokens under the supervision of EBA
- Art. 127Disclosure of information from another Member State
- Art. 128Cooperation with other authorities
- Art. 129Professional secrecy
- Art. 130Supervisory measures of EBA
- Art. 131Fines
- Art. 132Periodic penalty payments
- Art. 133Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
- Art. 134Procedural rules for taking supervisory measures and imposing fines
- Art. 135Hearing of the persons concerned
- Art. 136Review by the Court of Justice
- Art. 137Supervisory fees
- Art. 138Delegation of tasks from EBA to competent authorities
Title VIII: DELEGATED ACTS
Articles 139 – 139
Title IX: TRANSITIONAL AND FINAL PROVISIONS
Articles 140 – 149
- Art. 140Reports on the application of this Regulation
- Art. 141ESMA annual report on crypto-asset markets
- Art. 142Report on latest developments in crypto-asset markets
- Art. 143Transitional measures
- Art. 144Amendment to Regulation (EU) No 1093/2010
- Art. 145Amendment to Regulation (EU) No 1095/2010
- Art. 146Amendment to Directive 2013/36/EU
- Art. 147Amendment to Directive (EU) 2019/1937
- Art. 148Transposition of amendment to Directive 2013/36/EU and Directive (EU) 2019/1937
- Art. 149Entry into force and application