+12. For the purpose of applying the principle of proportionality when assessing the suitability of …

12. For the purpose of applying the principle of proportionality when assessing the suitability of …

For the purpose of applying the principle of proportionality when assessing the suitability of members as regards the knowledge and experience criteria as well as the members ability to commit sufficient time, the following criteria should be taken into account by issuers of ARTs, CASPs and competent authorities:

  • a. the size of the issuer of ARTs or of the CASP in terms of the balance sheet total,
  • b. the legal form of the issuer of ARTs or CASP and if it is listed or not,
  • c. whether the issuer of ARTs or CASP is part of a group, and if so, the proportionality assessment for the group,
  • d. the nature and complexity of all business activities,
  • e. whether cross borders activities are provided and the size of the operations in each jurisdiction,
  • f. in the case of an issuer of ARTs the following additional criteria:
i.the volume and number of ARTs issued,
ii.the size of the reserve of assets held by issuers of ARTs,
iii.the type and complexity of the assets a token is referenced to,
iv.the complexity of the instruments in which the reserve of assets are in-vested in.
  • g. In the case of a CASP the following additional criteria:
i.the type and volume of services provided and their criticality for the func-tioning of markets in crypto assets,
ii.the type of clients.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA -

    EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

    DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.