Title II: CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS

Article 10

Result of the offer to the public and safeguarding arrangements

1.   Offerors of crypto-assets other than asset-referenced tokens or e-money tokens that set a time limit on their offer to the public of those crypto-assets shall publish on their website the result of the offer to the public within 20 working days of the end of the subscription period. 2.   Offerors of crypto-assets other than asset-referenced tokens or e-money tokens that do not set a time limit on their offer to the public of those crypto-assets shall publish on their website on an ongoing basis, at least monthly, the number of units of the crypto-assets in circulation. 3.   Offerors of crypto-assets other than asset-referenced tokens or e-money tokens that set a time limit on their offer to the public of crypto-assets shall have effective arrangements in place to monitor and safeguard the funds or other crypto-assets raised during the offer to the public. For that purpose, those offerors shall ensure that the funds or crypto-assets collected during the offer to the public are kept in custody by one or both of the following: (a) a credit institution, where funds are raised during the offer to the public; (b) a crypto-asset service provider providing custody and administration of crypto-assets on behalf of clients. 4.   When the offer to the public has no time limit, the offeror shall comply with paragraph 3 of this Article until the right of withdrawal of the retail holder pursuant to Article 13 has expired.

Related Technical Standards & Guidelines

Questions & Answers

  • Q&AESMAIn force
    Title II Q&A Collection

    Collection of Q&As addressing requirements for offers to the public and admission to trading of utility tokens under Title II.

Related Recitals (Preamble)

Recitals provide interpretive context and policy rationale for the legislative provisions.

(36)
Safeguarding of raised funds

Summary: Offerors of crypto-assets other than asset-referenced tokens or e-money tokens should have effective arrangements in place to monitor and safeguard the funds or other crypto-assets raised during their offer to the public.