Template for the purposes of Article 17(1), point (b)(ii), and Article 18(2), point (e), Regulation (EU) 2023/1114

Credit institutions, and legal persons and other undertakings intending to offer to the public or seek admission to trading of an ART should use the template referred to in Annex B for the purposes of the legal opinion on the qualification of the crypto-asset referred to in Article 17(1), point (b)(ii), and Article 18(2), point (e), of Regulation (EU) No 2023/1114.

All fields set out in the template should be completed with all information necessary to provide clear, fair, not misleading and complete explanation of the classification of the crypto-asset. Reference should be made to the following informing the explanation of the classification of the crypto-asset:

• a. the source of the definitions taken into account for each regulatory product referred to in the template, including applicable EU and national law;
• b. all relevant:
• i. case law of the Court of Justice of the European Union and national courts;
• ii. regulatory measures, including rules and guidance, in the Member State concerned;
• iii. interpretative guidance from the European Commission and Guidelines from the European Supervisory Authorities;
• iv. interpretative guidance from competent authorities or any other source relevant to the interpretation of regulatory concepts.

The template should be completed by an in-house or external legal adviser. The legal adviser should be able to issue the opinion in an objective manner, free from conflicts of interest that cannot be effectively managed. Evidence should be provided of the legal adviser’s ability, as a matter of professional practice, to issue a legal opinion. This may include, as applicable, a diploma, a practicing certificate, registration with the relevant professional body in the Member State concerned.