Regolamento art
MICAR sulle crypto testo multilingue 2023/1114 EN
BG CS DA DE EL EN ES ET FI FR GA HR HU IT LV LT MT NL PL PT RO SK SL SV print pdf
Index & defs
- distributed ledger technology
- distributed ledger
- consensus mechanism
- DLT network node
- crypto-asset
- asset-referenced token
- electronic money token
- official currency
- utility token
- issuer
- applicant issuer
- offer to the public
- offeror
- funds
- crypto-asset service provider
- crypto-asset service
- providing custody and administration of crypto-assets on behalf of clients
- operation of a trading platform for crypto-assets
- exchange of crypto-assets for funds
- exchange of crypto-assets for other crypto-assets
- execution of orders for crypto-assets on behalf of clients
- placing of crypto-assets
- reception and transmission of orders for crypto-assets on behalf of clients
- providing advice on crypto-assets
- providing portfolio management of crypto-assets
- providing transfer services for crypto-assets on behalf of clients
- management body
- credit institution
- investment firm
- qualified investors
- close links
- reserve of assets
- home Member State
- host Member State
- competent authority
- qualifying holding
- retail holder
- online interface
- client
- matched principal trading
- payment services
- payment service provider
- electronic money institution
- electronic money
- personal data
- payment institution
- UCITS management company
- alternative investment fund manager
- financial instrument
- deposit
- structured deposit
- This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
- This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication.
- This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The issuer of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
- crypto-assets 120
- means 105
- crypto-asset 72
- article 50
- trading 47
- person 45
- directive 43
- service 39
- admission 35
- point 33
- defined 32
- issuer 29
- e-money 29
- clients 29
- behalf 28
- offeror 27
- provider 27
- seeking 27
- regulation 26
- asset-referenced_tokens 26
- tokens 26
- services 25
- which 24
- more 22
- member 22
- //eu 20
- state 20
- accordance 18
- require 17
- order 16
- information 15
- persons 15
- under 15
- management 14
- access 13
- natural 13
- providing 13
- //ec 13
- authorities 13
- than 12
- legal 11
- from 11
- suspend 11
- value 10
- including 10
- purchase 10
- such 10
- crypto-assets’ 10
- registered 10
- office 10
Article 3
Definitions
1. For the purposes of this Regulation, the following definitions apply:
| (1) | ‘ distributed_ledger_technology’ or ‘DLT’ means a technology that enables the operation and use of distributed_ledgers; |
| (2) | ‘ distributed_ledger’ means an information repository that keeps records of transactions and that is shared across, and synchronised between, a set of DLT_network_nodes using a consensus_mechanism; |
| (3) | ‘ consensus_mechanism’ means the rules and procedures by which an agreement is reached, among DLT_network_nodes, that a transaction is validated; |
| (4) | ‘ DLT_network_node’ means a device or process that is part of a network and that holds a complete or partial replica of records of all transactions on a distributed_ledger; |
| (5) | ‘ crypto-asset’ means a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed_ledger_technology or similar technology; |
| (6) | ‘ asset-referenced_token’ means a type of crypto-asset that is not an electronic_money_token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; |
| (7) | ‘ electronic_money_token’ or ‘e-money token’ means a type of crypto-asset that purports to maintain a stable value by referencing the value of one official_currency; |
| (8) | ‘ official_currency’ means an official_currency of a country that is issued by a central bank or other monetary authority; |
| (9) | ‘ utility_token’ means a type of crypto-asset that is only intended to provide access to a good or a service supplied by its issuer; |
| (10) | ‘ issuer’ means a natural or legal person, or other undertaking, who issues crypto-assets; |
| (11) | ‘applicant issuer’ means an issuer of asset-referenced_tokens or e-money tokens who applies for authorisation to offer_to_the_public or seeks the admission to trading of those crypto-assets; |
| (12) | ‘ offer_to_the_public’ means a communication to persons in any form, and by any means, presenting sufficient information on the terms of the offer and the crypto-assets to be offered so as to enable prospective holders to decide whether to purchase those crypto-assets; |
| (13) | ‘ offeror’ means a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; |
| (14) | ‘ funds’ means funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; |
| (15) | ‘ crypto-asset service provider’ means a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; |
| (16) | ‘ crypto-asset service’ means any of the following services and activities relating to any crypto-asset:
|
| (17) | ‘providing custody and administration of crypto-assets on behalf of clients’ means the safekeeping or controlling, on behalf of clients, of crypto-assets or of the means of access to such crypto-assets, where applicable in the form of private cryptographic keys; |
| (18) | ‘operation of a trading platform for crypto-assets’ means the management of one or more multilateral systems, which bring together or facilitate the bringing together of multiple third-party purchasing and selling interests in crypto-assets, in the system and in accordance with its rules, in a way that results in a contract, either by exchanging crypto-assets for funds or by the exchange of crypto-assets for other crypto-assets; |
| (19) | ‘exchange of crypto-assets for funds’ means the conclusion of purchase or sale contracts concerning crypto-assets with clients for funds by using proprietary capital; |
| (20) | ‘exchange of crypto-assets for other crypto-assets’ means the conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital; |
| (21) | ‘execution of orders for crypto-assets on behalf of clients’ means the conclusion of agreements, on behalf of clients, to purchase or sell one or more crypto-assets or the subscription on behalf of clients for one or more crypto-assets, and includes the conclusion of contracts to sell crypto-assets at the moment of their offer_to_the_public or admission to trading; |
| (22) | ‘placing of crypto-assets’ means the marketing, on behalf of or for the account of the offeror or a party related to the offeror, of crypto-assets to purchasers; |
| (23) | ‘reception and transmission of orders for crypto-assets on behalf of clients’ means the reception from a person of an order to purchase or sell one or more crypto-assets or to subscribe for one or more crypto-assets and the transmission of that order to a third party for execution; |
| (24) | ‘providing advice on crypto-assets’ means offering, giving or agreeing to give personalised recommendations to a client, either at the client’s request or on the initiative of the crypto-asset service provider providing the advice, in respect of one or more transactions relating to crypto-assets, or the use of crypto-asset services; |
| (25) | ‘providing portfolio management of crypto-assets’ means managing portfolios in accordance with mandates given by clients on a discretionary client-by- client basis where such portfolios include one or more crypto-assets; |
| (26) | ‘providing transfer services for crypto-assets on behalf of clients’ means providing services of transfer, on behalf of a natural or legal person, of crypto-assets from one distributed_ledger address or account to another; |
| (27) | ‘ management_body’ means the body or bodies of an issuer, offeror or person seeking admission to trading, or of a crypto-asset service provider, which are appointed in accordance with national law, which are empowered to set the entity’s strategy, objectives and overall direction, and which oversee and monitor management decision-making in the entity and include the persons who effectively direct the business of the entity; |
| (28) | ‘ credit_institution’ means a credit_institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU; |
| (29) | ‘ investment_firm’ means an investment_firm as defined in Article 4(1), point (2), of Regulation (EU) No 575/2013 and authorised under Directive 2014/65/EU; |
| (30) | ‘ qualified_investors’ means persons or entities that are listed in Section I, points (1) to (4), of Annex II to Directive 2014/65/EU; |
| (31) | ‘ close_links’ means close_links as defined in Article 4(1), point (35), of Directive 2014/65/EU; |
| (32) | ‘ reserve_of_assets’ means the basket of reserve assets securing the claim against the issuer; |
| (33) | ‘ home_Member_State’ means:
|
| (34) | ‘ host_Member_State’ means the Member State where an offeror or person seeking admission to trading has made an offer_to_the_public of crypto-assets or is seeking admission to trading, or where a crypto-asset service provider provides crypto-asset services, where different from the home_Member_State; |
| (35) | ‘ competent_authority’ means one or more authorities:
|
| (36) | ‘ qualifying_holding’ means any direct or indirect holding in an issuer of asset-referenced_tokens or in a crypto-asset service provider which represents at least 10 % of the capital or of the voting rights, as set out in Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council (32), respectively, taking into account the conditions for the aggregation thereof laid down in Article 12(4) and (5) of that Directive, or which makes it possible to exercise a significant influence over the management of the issuer of asset-referenced_tokens or the management of the crypto-asset service provider in which that holding subsists; |
| (37) | ‘ retail_holder’ means any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; |
| (38) | ‘ online interface’ means any software, including a website, part of a website or an application, that is operated by or on behalf of an offeror or crypto-asset service provider, and which serves to give holders of crypto-assets access to their crypto-assets and to give clients access to crypto-asset services; |
| (39) | ‘ client’ means any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; |
| (40) | ‘ matched_principal_trading’ means matched_principal_trading as defined in Article 4(1), point (38), of Directive 2014/65/EU; |
| (41) | ‘ payment_services’ means payment_services as defined in Article 4, point (3), of Directive (EU) 2015/2366; |
| (42) | ‘ payment_service_provider’ means a payment_service_provider as defined in Article 4, point (11), of Directive (EU) 2015/2366; |
| (43) | ‘ electronic_money_institution’ means an electronic_money_institution as defined in Article 2, point (1), of Directive 2009/110/EC; |
| (44) | ‘ electronic_money’ means electronic_money as defined in Article 2, point (2), of Directive 2009/110/EC; |
| (45) | ‘ personal_data’ means personal_data as defined in Article 4, point (1), of Regulation (EU) 2016/679; |
| (46) | ‘ payment_institution’ means a payment_institution as defined in Article 4, point (4), of Directive (EU) 2015/2366; |
| (47) | ‘ UCITS_management_company’ means a management company as defined in Article 2(1), point (b), of Directive 2009/65/EC of the European Parliament and of the Council (33); |
| (48) | ‘ alternative_investment_fund_manager’ means an AIFM as defined in Article 4(1), point (b), of Directive 2011/61/EU of the European Parliament and of the Council (34); |
| (49) | ‘ financial_instrument’ means financial_instruments as defined in Article 4(1), point (15), of Directive 2014/65/EU; |
| (50) | ‘ deposit’ means a deposit as defined in Article 2(1), point (3), of Directive 2014/49/EU; |
| (51) | ‘structured deposit’ means a structured deposit as defined in Article 4(1), point (43), of Directive 2014/65/EU. |
2. The Commission shall adopt delegated acts in accordance with Article 139 to supplement this Regulation by further specifying technical elements of the definitions laid down in paragraph 1 of this Article, and to adjust those definitions to market developments and technological developments.
TITLE II
CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS
Article 3
Definitions
1. For the purposes of this Regulation, the following definitions apply:
| (1) | ‘ distributed_ledger_technology’ or ‘DLT’ means a technology that enables the operation and use of distributed_ledgers; |
| (2) | ‘ distributed_ledger’ means an information repository that keeps records of transactions and that is shared across, and synchronised between, a set of DLT_network_nodes using a consensus_mechanism; |
| (3) | ‘ consensus_mechanism’ means the rules and procedures by which an agreement is reached, among DLT_network_nodes, that a transaction is validated; |
| (4) | ‘ DLT_network_node’ means a device or process that is part of a network and that holds a complete or partial replica of records of all transactions on a distributed_ledger; |
| (5) | ‘ crypto-asset’ means a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed_ledger_technology or similar technology; |
| (6) | ‘ asset-referenced_token’ means a type of crypto-asset that is not an electronic_money_token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; |
| (7) | ‘ electronic_money_token’ or ‘e-money token’ means a type of crypto-asset that purports to maintain a stable value by referencing the value of one official_currency; |
| (8) | ‘ official_currency’ means an official_currency of a country that is issued by a central bank or other monetary authority; |
| (9) | ‘ utility_token’ means a type of crypto-asset that is only intended to provide access to a good or a service supplied by its issuer; |
| (10) | ‘ issuer’ means a natural or legal person, or other undertaking, who issues crypto-assets; |
| (11) | ‘applicant issuer’ means an issuer of asset-referenced_tokens or e-money tokens who applies for authorisation to offer_to_the_public or seeks the admission to trading of those crypto-assets; |
| (12) | ‘ offer_to_the_public’ means a communication to persons in any form, and by any means, presenting sufficient information on the terms of the offer and the crypto-assets to be offered so as to enable prospective holders to decide whether to purchase those crypto-assets; |
| (13) | ‘ offeror’ means a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; |
| (14) | ‘ funds’ means funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; |
| (15) | ‘ crypto-asset service provider’ means a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; |
| (16) | ‘ crypto-asset service’ means any of the following services and activities relating to any crypto-asset:
|
| (17) | ‘providing custody and administration of crypto-assets on behalf of clients’ means the safekeeping or controlling, on behalf of clients, of crypto-assets or of the means of access to such crypto-assets, where applicable in the form of private cryptographic keys; |
| (18) | ‘operation of a trading platform for crypto-assets’ means the management of one or more multilateral systems, which bring together or facilitate the bringing together of multiple third-party purchasing and selling interests in crypto-assets, in the system and in accordance with its rules, in a way that results in a contract, either by exchanging crypto-assets for funds or by the exchange of crypto-assets for other crypto-assets; |
| (19) | ‘exchange of crypto-assets for funds’ means the conclusion of purchase or sale contracts concerning crypto-assets with clients for funds by using proprietary capital; |
| (20) | ‘exchange of crypto-assets for other crypto-assets’ means the conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital; |
| (21) | ‘execution of orders for crypto-assets on behalf of clients’ means the conclusion of agreements, on behalf of clients, to purchase or sell one or more crypto-assets or the subscription on behalf of clients for one or more crypto-assets, and includes the conclusion of contracts to sell crypto-assets at the moment of their offer_to_the_public or admission to trading; |
| (22) | ‘placing of crypto-assets’ means the marketing, on behalf of or for the account of the offeror or a party related to the offeror, of crypto-assets to purchasers; |
| (23) | ‘reception and transmission of orders for crypto-assets on behalf of clients’ means the reception from a person of an order to purchase or sell one or more crypto-assets or to subscribe for one or more crypto-assets and the transmission of that order to a third party for execution; |
| (24) | ‘providing advice on crypto-assets’ means offering, giving or agreeing to give personalised recommendations to a client, either at the client’s request or on the initiative of the crypto-asset service provider providing the advice, in respect of one or more transactions relating to crypto-assets, or the use of crypto-asset services; |
| (25) | ‘providing portfolio management of crypto-assets’ means managing portfolios in accordance with mandates given by clients on a discretionary client-by- client basis where such portfolios include one or more crypto-assets; |
| (26) | ‘providing transfer services for crypto-assets on behalf of clients’ means providing services of transfer, on behalf of a natural or legal person, of crypto-assets from one distributed_ledger address or account to another; |
| (27) | ‘ management_body’ means the body or bodies of an issuer, offeror or person seeking admission to trading, or of a crypto-asset service provider, which are appointed in accordance with national law, which are empowered to set the entity’s strategy, objectives and overall direction, and which oversee and monitor management decision-making in the entity and include the persons who effectively direct the business of the entity; |
| (28) | ‘ credit_institution’ means a credit_institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU; |
| (29) | ‘ investment_firm’ means an investment_firm as defined in Article 4(1), point (2), of Regulation (EU) No 575/2013 and authorised under Directive 2014/65/EU; |
| (30) | ‘ qualified_investors’ means persons or entities that are listed in Section I, points (1) to (4), of Annex II to Directive 2014/65/EU; |
| (31) | ‘ close_links’ means close_links as defined in Article 4(1), point (35), of Directive 2014/65/EU; |
| (32) | ‘ reserve_of_assets’ means the basket of reserve assets securing the claim against the issuer; |
| (33) | ‘ home_Member_State’ means:
|
| (34) | ‘ host_Member_State’ means the Member State where an offeror or person seeking admission to trading has made an offer_to_the_public of crypto-assets or is seeking admission to trading, or where a crypto-asset service provider provides crypto-asset services, where different from the home_Member_State; |
| (35) | ‘ competent_authority’ means one or more authorities:
|
| (36) | ‘ qualifying_holding’ means any direct or indirect holding in an issuer of asset-referenced_tokens or in a crypto-asset service provider which represents at least 10 % of the capital or of the voting rights, as set out in Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council (32), respectively, taking into account the conditions for the aggregation thereof laid down in Article 12(4) and (5) of that Directive, or which makes it possible to exercise a significant influence over the management of the issuer of asset-referenced_tokens or the management of the crypto-asset service provider in which that holding subsists; |
| (37) | ‘ retail_holder’ means any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; |
| (38) | ‘ online interface’ means any software, including a website, part of a website or an application, that is operated by or on behalf of an offeror or crypto-asset service provider, and which serves to give holders of crypto-assets access to their crypto-assets and to give clients access to crypto-asset services; |
| (39) | ‘ client’ means any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; |
| (40) | ‘ matched_principal_trading’ means matched_principal_trading as defined in Article 4(1), point (38), of Directive 2014/65/EU; |
| (41) | ‘ payment_services’ means payment_services as defined in Article 4, point (3), of Directive (EU) 2015/2366; |
| (42) | ‘ payment_service_provider’ means a payment_service_provider as defined in Article 4, point (11), of Directive (EU) 2015/2366; |
| (43) | ‘ electronic_money_institution’ means an electronic_money_institution as defined in Article 2, point (1), of Directive 2009/110/EC; |
| (44) | ‘ electronic_money’ means electronic_money as defined in Article 2, point (2), of Directive 2009/110/EC; |
| (45) | ‘ personal_data’ means personal_data as defined in Article 4, point (1), of Regulation (EU) 2016/679; |
| (46) | ‘ payment_institution’ means a payment_institution as defined in Article 4, point (4), of Directive (EU) 2015/2366; |
| (47) | ‘ UCITS_management_company’ means a management company as defined in Article 2(1), point (b), of Directive 2009/65/EC of the European Parliament and of the Council (33); |
| (48) | ‘ alternative_investment_fund_manager’ means an AIFM as defined in Article 4(1), point (b), of Directive 2011/61/EU of the European Parliament and of the Council (34); |
| (49) | ‘ financial_instrument’ means financial_instruments as defined in Article 4(1), point (15), of Directive 2014/65/EU; |
| (50) | ‘ deposit’ means a deposit as defined in Article 2(1), point (3), of Directive 2014/49/EU; |
| (51) | ‘structured deposit’ means a structured deposit as defined in Article 4(1), point (43), of Directive 2014/65/EU. |
2. The Commission shall adopt delegated acts in accordance with Article 139 to supplement this Regulation by further specifying technical elements of the definitions laid down in paragraph 1 of this Article, and to adjust those definitions to market developments and technological developments.
TITLE II
CRYPTO-ASSETS OTHER THAN ASSET-REFERENCED TOKENS OR E-MONEY TOKENS
Article 94
Powers of competent authorities
1. In order to perform their duties under Titles II to VI of this Regulation, competent authorities shall have, in accordance with national law, at least the following supervisory and investigative powers:
| (a) | to require any person to provide information and documents which the competent authorities consider could be relevant for the performance of their duties; |
| (b) | to suspend, or to require a crypto-asset service provider to suspend, the provision of crypto-asset services for a maximum of 30 consecutive working days on any single occasion where there are reasonable grounds for suspecting that this Regulation has been infringed; |
| (c) | to prohibit the provision of crypto-asset services where they find that this Regulation has been infringed; |
| (d) | to disclose, or to require a crypto-asset servicer provider to disclose, all material information which might have an effect on the provision of the crypto-asset services concerned, in order to ensure the protection of the interests of clients, in particular retail_holders, or the smooth operation of the market; |
| (e) | to make public the fact that a crypto-asset service provider fails to fulfil its obligations; |
| (f) | to suspend, or to require a crypto-asset service provider to suspend, the provision of crypto-asset services where the competent authorities consider that the crypto-asset service provider’s situation is such that the provision of the crypto-asset service would be detrimental to the interests of clients, in particular retail_holders; |
| (g) | to require the transfer of existing contracts to another crypto-asset service provider in cases where a crypto-asset service provider’s authorisation is withdrawn in accordance with Article 64, subject to the agreement of the clients and the crypto-asset service provider to which the contracts are to be transferred; |
| (h) | where there is a reason to assume that a person is providing crypto-asset services without authorisation, to order the immediate cessation of the activity without prior warning or imposition of a deadline; |
| (i) | to require offerors, persons seeking admission to trading of crypto-assets, or issuers of asset-referenced_tokens or e-money tokens to amend their crypto-asset white paper or further amend their modified crypto-asset white paper, where they find that the crypto-asset white paper or the modified crypto-asset white paper does not contain the information required by Article 6, 19 or 51; |
| (j) | to require offerors, persons seeking admission to trading of crypto-assets, or issuers of asset-referenced_tokens or e-money tokens, to amend their marketing communications, where they find that the marketing communications do not comply with the requirements set out in Article 7, 29 or 53 of this Regulation; |
| (k) | to require offerors, persons seeking admission to trading of crypto-assets, or issuers of asset-referenced_tokens or e-money tokens, to include additional information in their crypto-asset white papers, where necessary for financial stability or the protection of the interests of the holders of crypto-assets, in particular retail_holders; |
| (l) | to suspend an offer_to_the_public or an admission to trading of crypto-assets for a maximum of 30 consecutive working days on any single occasion where there are reasonable grounds for suspecting that this Regulation has been infringed; |
| (m) | to prohibit an offer_to_the_public or an admission to trading of crypto-assets where they find that this Regulation has been infringed or where there are reasonable grounds for suspecting that it will be infringed; |
| (n) | to suspend, or require a crypto-asset service provider operating a trading platform for crypto-assets to suspend, trading of the crypto-assets for a maximum of 30 consecutive working days on any single occasion where there are reasonable grounds for suspecting that this Regulation has been infringed; |
| (o) | to prohibit trading of crypto-assets on a trading platform for crypto-assets where they find that this Regulation has been infringed or where there are reasonable grounds for suspecting that it will be infringed; |
| (p) | to suspend or prohibit marketing communications where there are reasonable grounds for suspecting that this Regulation has been infringed; |
| (q) | to require offerors, persons seeking admission to trading of crypto-assets, issuers of asset-referenced_tokens or e-money tokens or relevant crypto-asset service providers to cease or suspend marketing communications for a maximum of 30 consecutive working days on any single occasion where there are reasonable grounds for suspecting that this Regulation has been infringed; |
| (r) | to make public the fact that an offeror, a person seeking admission to trading of a crypto-asset or an issuer of an asset-referenced_token or e-money token, fails to fulfil its obligations under this Regulation; |
| (s) | to disclose, or to require the offeror, the person seeking admission to trading of a crypto-asset or the issuer of the asset-referenced_token or e-money token, to disclose all material information which may have an effect on the assessment of the crypto-asset offered to the public or admitted to trading in order to ensure the protection of the interests of holders of crypto-assets, in particular retail_holders, or the smooth operation of the market; |
| (t) | to suspend, or require the relevant crypto-asset service provider operating the trading platform for crypto-assets to suspend, the crypto-assets from trading where they consider that the situation of the offeror, the person seeking admission to trading of a crypto-asset or the issuer of an asset-referenced_token or an e-money token is such that trading would be detrimental to the interests of the holders of crypto-assets, in particular retail_holders; |
| (u) | where there is a reason to assume that a person is issuing asset-referenced_tokens or e-money tokens without authorisation or a person is offering or seeking admission to trading of crypto-assets other than asset-referenced_tokens or e-money tokens without a crypto-asset white paper notified in accordance with Article 8, to order the immediate cessation of the activity without prior warning or imposition of a deadline; |
| (v) | to take any type of measure to ensure that an offeror or a person seeking admission to trading of crypto-assets, an issuer of an asset-referenced_token or an e-money token or a crypto-asset service provider comply with this Regulation including to require the cessation of any practice or conduct that the competent authorities consider contrary to this Regulation; |
| (w) | to carry out on-site inspections or investigations at sites other than the private residences of natural persons, and for that purpose to enter premises in order to access documents and other data in any form; |
| (x) | to outsource verifications or investigations to auditors or experts; |
| (y) | to require the removal of a natural person from the management_body of an issuer of an asset-referenced_token or of a crypto-asset service provider; |
| (z) | to request any person to take steps to reduce the size of its position or exposure to crypto-assets; |
| (aa) | where no other effective means are available to bring about the cessation of the infringement of this Regulation and in order to avoid the risk of serious harm to the interests of clients or holders of crypto-assets to take all necessary measures, including by requesting a third party or a public authority to implement such measures, to:
|
| (ab) | to require an issuer of an asset-referenced_token or e-money token, in accordance with Article 23(4), 24(3) or 58(3), to introduce a minimum denomination amount or to limit the amount issued. |
2. Supervisory and investigative powers exercised in relation to offerors, persons seeking admission to trading, issuers and crypto-asset service providers, are without prejudice to powers granted to the same or other supervisory authorities regarding those entities, including powers granted to relevant competent authorities under the provisions of national law transposing Directive 2009/110/EC and prudential supervisory powers granted to the ECB under Regulation (EU) No 1024/2013.
3. In order to fulfil their duties under Title VI, competent authorities shall have, in accordance with national law, at least the following supervisory and investigatory powers in addition to the powers referred to in paragraph 1:
| (a) | to access any document and data in any form, and to receive or take a copy thereof; |
| (b) | to require or demand information from any person, including those who are successively involved in the transmission of orders or conduct of the operations concerned, as well as their principals, and if necessary, to summon and question any such person with a view to obtain information; |
| (c) | to enter the premises of natural and legal persons in order to seize documents and data in any form where a reasonable suspicion exists that documents or data relating to the subject matter of the inspection or investigation might be relevant to prove a case of insider dealing or market manipulation; |
| (d) | to refer matters for criminal prosecution; |
| (e) | to require, insofar as permitted by national law, existing data traffic records held by a telecommunications operator, where there is a reasonable suspicion of an infringement and where such records may be relevant to the investigation of an infringement of Articles 88 to 91; |
| (f) | to request the freezing or sequestration of assets, or both; |
| (g) | to impose a temporary prohibition on the exercise of professional activity; |
| (h) | to take all necessary measures to ensure that the public is correctly informed, inter alia, by correcting false or misleading disclosed information, including by requiring an offeror, person seeking admission to trading or issuer or other person who has published or disseminated false or misleading information to publish a corrective statement. |
4. Where necessary under national law, the competent_authority may ask the relevant court to decide on the use of the powers referred to in paragraphs 1 and 2.
5. Competent authorities shall exercise the powers referred to in paragraphs 1 and 2 in any of the following ways:
| (a) | directly; |
| (b) | in collaboration with other authorities, including authorities competent for the prevention and fight against money laundering and terrorist financing; |
| (c) | under their responsibility, by delegation to the authorities referred to in point (b); |
| (d) | by application to the competent courts. |
6. Member States shall ensure that appropriate measures are in place so that competent authorities can exercise the supervisory and investigatory powers that are necessary to perform their duties.
7. A person making information available to the competent_authority in accordance with this Regulation shall not be considered to infringe any restriction on disclosure of information imposed by contract or by any legislative, regulatory or administrative provision, and shall not be subject to liability of any kind related to such notification.
whereas