+Article 49 Issuance and redeemability of e-money tokens
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Article 49 Issuance and redeemability of e-money tokens

1. Overview

Summary	Regulation
Article 49 1.	By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.
Article 49 2.	Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.
Article 49 3.	Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.
Article 49 4.	Upon request by a holder of an e-money token, the issuer of that e-money token shall redeem it, at any time and at par value, by paying in funds, other than electronic money, the monetary value of the e-money token held to the holder of the e-money token.
Article 49 5.	Issuers of e-money tokens shall prominently state the conditions for redemption in the crypto-asset white paper as referred to in Article 51(1), first subparagraph, point (d).
Article 49 6.	Without prejudice to Article 46, the redemption of e-money tokens shall not be subject to a fee.

Requirements
Source	Requirement

Standards
Source	Requirement

Builddate: 09.01.2024 00:00:00 -Doknr: CELEX:32023R1114
EULAW -
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