+CHAPTER 1 Requirements to be fulfilled by all issuers of e-money tokens
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---+Article 49 Issuance and redeemability of e-money tokens
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---+Article 50 Prohibition of granting interest
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---+Article 51 Content and form of the crypto-asset white paper for e-money tokens
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---+Article 52 Liability of issuers of e-money tokens for the information given in a crypto-asset white paper
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---+Article 53 Marketing communications
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---+Article 54 Investment of funds received in exchange for e-money tokens
---+Article 55 Recovery and redemption plans

CHAPTER 1 Requirements to be fulfilled by all issuers of e-money tokens

CHAPTER 1 Requirements to be fulfilled by all issuers of e-money tokens

1. Overview

,
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 54

Investment of funds received in exchange for e-money tokens

Funds received by issuers of e-money tokens in exchange for e-money tokens and safeguarded in accordance with Article 7(1) of Directive 2009/110/EC shall comply with the following:

(a) 

at least 30 % of the funds received is always deposited in separate accounts in credit institutions;

(b) 

the remaining funds received are invested in secure, low-risk assets that qualify as highly liquid financial instruments with minimal market risk, credit risk and concentration risk, in accordance with Article 38(1) of this Regulation, and are denominated in the same official currency as the one referenced by the e-money token.
Article 55 Recovery and redemption plans

Article 55

Recovery and redemption plans

Title III, Chapter 6 shall apply mutatis mutandis to issuers of e-money tokens.

By way of derogation from Article 46(2), the date by which the recovery plan is to be notified to the competent authority shall, in respect of issuers of e-money tokens, be within six months of the date of the offer to the public or admission to trading.

By way of derogation from Article 47(3), the date by which the redemption plan is to be notified to the competent authority shall, in respect of issuers of e-money tokens, be within six months of the date of the offer to the public or admission to trading.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • Builddate: 09.01.2024 00:00:00 -Doknr: CELEX:32023R1114
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