+Annex B - Template
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Annex B - Template
This template is provided for the purposes of the legal opinion referred to in Article 17(1), point (b)(ii) and Article 18(2), point (e) of Regulation (EU) 2023/1114. TEMPLATE: LEGAL OPINION FOR THE PURPOSES OF ARTICLE 17(1), point (b)(ii) and ARTICLE 18(2), point (e) REGULATION (EU) 2023/1114 An Opinion issued for the purposes of these articles should contain information for all the below fields. Date on which this Opinion is issued | Name of the person(s) (legal or natural) issuing this Opinion | Please include: name, address, email address, and telephone number. |
n | o i n i Point of contact of the person(s) (legal or p O t natural) to above) issuing this Opinion (if different | Please include: name, address, email address, and telephone number. |
u - o Declaration of any potential conflicts of
b a interest and measures to manage effec- n - o i tively those conflicts
t | a m r o f n I a Evidence legal adviser of the person(s) ability to act as | Please degree, certificate include licence, to practice as professional much law information etc. registration as possible, number, e.g. Specify: | | Purpose for which this Opinion is issued | - Article 17(1), point (b)(ii), or - Article 18(2), point (e), of MiCAR |
- - Name of the credit institution/financial
d a institution/other undertaking intending k ee to offer to the public, or seek admission s r to trading of the crypto-asset on whose o c behalf this Opinion is issued il | bup e h Regulated tration to carry status out (authorisation financial services or regis- ac- | E.g. etc. credit institution, electronic money institution |
t tivity/ies) o t LEI (if applicable) r e ff g n i EEA/Member State of establishment | o o t d a r t g n o t Point of contact | Please include: name, address, email address, and telephone number. | | i dn e t n o i ss Intention of the credit institution/finan- | Specify: - Offer to the public |
n i n i m cial institution/other undertaking - Seek admission to trading | o s r White paper to which this Opinion refers e p ( this should be the ‘final version’ of the t white paper submitted for the purpose of u o b Article 17(1), point (b) (ii) and Article 18 (2), a n point (e) of MiCAR ) | Please indicate the date of the white paper assessed for the purposes of this Opinion and to which this Opinion refers. Please also attach a copy of the white paper to this Opinion. |
o i t a m Member State(s) in which the offer to r o the public or admission to trading will f n I take place | t e Applicable law | Please indicate, the law applicable to the crypto-as-set as referred to in the white paper. |
s | s a - o t Executive summary of the regulatory | Please tion and indicate any key the points purported you wish regulatory to highlight classifica- in the | | p y r classification of the crypto-asset | executive summary. | | C Opinion, with detailed explanation, that the digital representation to which this | Explanation may be provided in an Annex and should cover all aspects of the definition of ‘crypto-asset’, | | Opinion relates is a crypto-asset within the meaning of Article 3(1), point (5), of MiCAR | including the value or right, and the distributed ledger technology or similar technology on which the crypto-asset may be transferred or stored. Description should set out the value, right or official | | Detailed description of the value or right or official currencies to which the crypto-asset refers | currencies to which the crypto-asset refers and is in-tended to purport to maintain a stable value, with full cross-references to the relevant provisions of the white paper. Explanation may be provided in an Annex to the | | Opinion, with detailed explanation, that the crypto-asset to which this Opinion re-lates is not an electronic money token within the meaning of Article 3(1), point (7), of MiCAR | Opinion and should include all aspects that demon-strate that the crypto-asset is not intended to pur-port to maintain a stable value by reference to a sin-gle official currency, with full cross-references to the relevant provisions of the white paper. |
Opinion, with detailed explanation, that the crypto-asset to which this Opinion re-lates is not any of the following: | - Financial instrument, as referred | Source of definition(s) (EU and/or national law as applicable): Case law (including paragraph references, as ap-propriate) to which reference is made in the expla-nation: Regulatory measures or guidance to which refer-ence is made in the explanation (including the Guidelines pursuant to Article 2(5) of MiCAR): Explanation: | | to in Article 2(4), point (a), of MiCAR. | Note: Explanation may be supplemented in an Annex and should include all aspects that demonstrate that the crypto-asset is not a financial instrument. The explanation should indicate why the crypto-asset does not correspond to any of the financial instru-ment types (transferable security, money market in-strument etc), make full reference to the ESMA Guidelines under Article 2(5) of MiCAR, and any ap-plicable case law, or relevant regulatory or supervi-sory materials issued by the competent authority for the purposes of [MiFID2] in the home Member State within the meaning of Article 3(1), point (33), of MiCAR. Source of definition(s) (EU and/or national law as applicable): Case law (including paragraph references, as ap- | | - Deposits, including structured deposits, as referred to in Article 2(4), point (b), of MiCAR | propriate) to which reference is made in the expla-nation: Regulatory measures or guidance to which refer-ence is made in the explanation: Explanation: Note: Explanation may be provided in an Annex and should include all aspects that demonstrate that the crypto-asset is not a deposit. The explanation should make full reference to any applicable case law, or relevant regulatory or supervisory materials issued by the competent authority for the purposes of [CRD/CRR] in the home Member State within the meaning of Article 3(1), point (33) of MiCAR. Source of definition(s) (EU and/or national law as applicable): Case law (including paragraph references, as ap-propriate) to which reference is made in the expla-nation: Regulatory measures or guidance to which refer-ence is made in the explanation: | | - Funds as referred to in Article 2(4), point (c), of MiCAR | Explanation: Note: Explanation may be provided in an Annex and that demonstrate that the crypto-asset is not funds. The explanation should make full reference to any applicable case law, or relevant regulatory or super-visory materials issued by the competent authority for the purposes of [PSD] in the home Member State within the meaning of Article 3(1), point (33), of MiCAR . |
Brief explanation, unless more detailed assessment is relevant, that the crypto-asset is not any of the following: | - Securitisation positions as re-ferred to in Article 2(4), point (d), of MiCAR - Non-life or life insurance prod-ucts or reinsurance or retroces-sion contracts as referred to in Article 2(4), point (e), of MiCAR - Pension products as referred to in Article 2(4), point (f), of MiCAR - Officially recognized occupa-tional pension schemes as re-ferred to in Article 2(4), point (g), of MiCAR - Individual pension products as referred to in Article 2(4), point (h), of MiCAR - Pan-European Pension Products as referred to in Article 2(4), point (i), of MiCAR | Note: Explanation should confirm that the crypto-as-set is not a securitisation position. Note: Explanation should confirm that the crypto-as-set is not a non-life or life insurance product. Explanation should confirm that the crypto-asset is not a pension product. Note: Explanation should confirm that the crypto-as-set is not an occupational pension scheme. Note: Explanation should confirm that the crypto-as-set is not an individual pension product. Note: Explanation should confirm that the crypto-as-set is not a Pan-European Pension Product. | | - Social security schemes as re-ferred to in Article 2(4), point (j), of MiCAR | Note: Explanation should confirm that the crypto-as-set is not a social security scheme. Source of definition(s) (EU and/or national law as applicable): Case law (including paragraph references, as ap-propriate) to which reference is made in the expla-nation: Regulatory measures or guidance to which refer-ence is made in the explanation: | | Opinion, with full explanation that the crypto-asset is within the meaning of Article 3(1), point (6), of MiCAR | Explanation: Note: Explanation should not repeat the foregoing but should describe the attributes of the crypto-asset that conform to the definition of ‘asset-referenced token’. The explanation may be provided in an An-nex to this Opinion and should refer to all relevant provisions of the white paper, among any other ma-terials, that are considered relevant in supporting the Opinion as to the regulatory classification of the crypto-asset. Note: Please set out such other information as you | | Additional relevant information | consider appropriate to explain the regulatory classi-fication of the crypto-asset. |
1. Overview
1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
| Source |
Requirement |
3. Related Standards
Standards
| Source |
Requirement |
- 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.
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