2023R1114 - Summary
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)
Info
🇫🇷 French Version: 2023R1114_FR.0. Open the PDF. Direct link to EUR-LEX.
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
Article 110a - Accessibility of information on the European single access point
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
Annex II - DISCLOSURE ITEMS FOR THE CRYPTO-ASSET WHITE PAPER FOR AN ASSET-REFERENCED TOKEN
Annex III - DISCLOSURE ITEMS FOR THE CRYPTO-ASSET WHITE PAPER FOR AN E-MONEY TOKEN
Annex IIII - 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