13. To apply the previous paragraph, issuers and competent authorities should take into account all …

To apply the previous paragraph, issuers and competent authorities should take into account all of the following criteria:

a. the size, complexity, nature and business model of the issuer;
b. the classification of the asset-referenced token or e-money token issued as significant pursuant to Articles 43 and 44 and Articles 56 and 57 of Regulation (EU) 2023/1114;
c. for issuers of asset-referenced tokens, the size, volatility, composition, concentration and nature of the reserve assets and of the asset-referenced token itself;
d. for issuers of e-money tokens, the size, volatility, composition, and concentration of the assets backing the funds received;
e. the significance and risk profiles of Crypto Asset Service Providers used in rendering the services related to the asset-referenced tokens or e-money tokens issued by the respective issuer;
f. the significance and risk profiles of DLT networks which are used by the respective issuer in order to issue asset-referenced tokens or e-money tokens through them;
g. the risk profile of third party providers other than Crypto Asset Service Providers and DLT networks which provide a significant or a critical ICT service to the respective issuer.

1. Overview

Summary	Regulation

Requirements
Source	Requirement

Standards
Source	Requirement

EBA -
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