+Annex A - Template
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Annex A - Template
This template is provided for the purposes of the explanation referred to in Article 8(4) of Regulation (EU) 2023/1114. TEMPLATE: EXPLANATION FOR THE PURPOSES OF ARTICLE 8(4) REGULATION (EU) 2023/1114 An explanation prepared for the purposes of Article 8(4) Regulation (EU) 2023/1114 (MiCAR) should contain information for each of the below fields. Date on which this explanation is is-t u sued | o b n Name of the person(s) a n o i t a o i t a n a l issuing Point of this contact explanation of the | (legal or natural) person(s) (legal or | Please include: name, address, email address, and telephone Please include: number. name, address, email address, and | | | m r o p x e natural) issuing this explanation | (if differ- | telephone number. | |
ent to above) f n Confirmation that this explanation is is- I | sued for the purposes of MiCAR - r e p , ) s ( r - d a r t o t g n i d a r t Name admission trading of platforms, the to offeror(s), trading, on or whose | Article 8(4) of person(s) operator(s) behalf seeking this of | Please confirm. Please sion of use this the information. Annex to this template for the provi- | |
- o n f explanation is issued
| r e ff o o i ss i o s r o t t u o b a m d a g n a r e p o White refers the white (this paper paper should to which submitted be the this | ‘final for explanation the version’ purpose of | Please indicate the date of the white paper notified sessed which for the this for purposes the explanation purposes of Article refers. of 8(1) this Please explanation of MiCAR, also and attach and as- | to a | | n o i i k r o / of Article 8(1) of MiCAR)) | | copy of the white paper to this explanation. | |
t ee a s dn m ) s a Member State(s) in which the offer to r ( , - o f n I n o s g n i the public or admission to trading will take place
| Applicable law | | Please indicate the law applicable to the crypto-as-set as referred to in the white paper. Please indicate the purported regulatory classifica- | | | Executive summary of the classification of the crypto-asset | regulatory | tion and any key points you wish to highlight in executive summary. Explanation may be provided in an Annex and should | the | | Detailed explanation that resentation to which the lates is a crypto-asset within of Article 3(1), point (5), t | the digital rep-white paper re-the meaning of MiCAR | cover all aspects of the definition of ‘crypto-asset’, including the value or right that it represents, and the distributed ledger technology or similar technol-ogy on which the crypto-asset may be transferred stored. | or |
e | ss a - o t p y Detailed set to which explanation the white that | paper the relates crypto-as- is | Explanation may be provided in an Annex and should include asset is all not aspects intended that to demonstrate purport to maintain that the a crypto- stable | | | r C not an electronic money meaning of Article 3(1), MiCAR | token within the point (7), of | value by reference to an official currency, with full cross-references to the relevant provisions of the white paper. Explanation may be provided in an Annex and should | | | Detailed explanation that set to which the white not an asset-referenced meaning of Article 3(1), MiCAR | the crypto-as-paper relates is token within the point (6), of | include all aspects that demonstrate that the crypto-asset is not intended to purport to maintain a stable value by reference to another value or right or a combination thereof, with full cross-references the relevant provisions of the white paper. | to |
Detailed explanation that the crypto-asset is not any of the following: | - Financial instrument, to in Article 2(4), MiCAR. | as referred point (a), of | Source of definition(s) (EU and/or national law 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 adopted pursuant to Article 2(5) of MiCAR): Explanation: Note: Explanation may be supplemented in an Annex and should include all aspects that demonstrate 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 strument etc), make full reference to the ESMA Guidelines under Article 2(5) of MiCAR, and any plicable case law, or relevant regulatory or supervi-sory materials issued by the competent authority the purposes of [MiFID2] in the home Member within the meaning of Article 3(1), point (33), of MiCAR. Source of definition(s) (EU and/or national law 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- | as that in-ap-for State as | | - Deposits, including | structured | ence is made in the explanation: | |
deposits, as referred to in Article | 2(4), point (b), | of MiCAR | Explanation: Note: Explanation 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 super-visory 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 applicable): Case law (including paragraph references, as ap- | as | | - Funds as referred 2(4), point (c), | to in Article 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 should include all aspects that demonstrate that the crypto-asset is not funds. explanation should make full reference to any appli-cable case law, or relevant regulatory or supervisory materials issued by the competent authority for purposes of Directive (EU) 2015/2366 of the Euro-pean Parliament and of the Council in the home Member State within the meaning of Article 3(1), point (33), of MiCAR . | The the |
Brief explanation, unless more detailed assessment is relevant, that the crypto-asset is not any of the following: | - Securitisation ferred to in Article (d), of MiCAR - Non-life or life ucts or reinsurance sion contracts Article 2(4), point | positions as re-2(4), point insurance prod- or retroces-as referred to in (e), 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. | | | - Pension product Article 2(4), point | as referred to in (f), of MiCAR | Note: Explanation should confirm that the crypto-as-set is not a pension product. | |
- - Officially recognised occupa-
| tional pension ferred to in Article (g), of MiCAR - Individual pension referred to in Article (h), of MiCAR - Pan-European as referred to point (i), of MiCAR - Social security ferred to in Article of MiCAR | schemes as re-2(4), point products as 2(4), point Pension Products in Article 2(4), schemes as re-2(4), point (j), | 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. Note: Explanation should confirm that the crypto-as-set is not a social security scheme. Note: Please set out such other information as you | | | Additional relevant information | | consider appropriate to explain the regulatory classi-fication of the crypto-asset. | | | ANNEX TO TEMPLATE: INFORMATION | ABOUT Regulated status (if | OFFERORS, PERSONS SEEKING ADMISSION any) of | TO TRADING, OPERATORS OF TRADING PLATFORMS | | Name of the offeror(s), per-son(s) seeking admission to trading, or operator(s) of trading platforms, on whose behalf this explana-tion is issued | the offeror(s), person(s) seeking admission ing, or operator(s) sation or registration carry out financial activity/ies) | to trad-(authori- LEI (if applicable) to services | EEA/Member State of es-tablishment, branch or reg- Point of contact istered office (as applicable) Please indicate jurisdiction and Please include: name, address, status (establishment, branch, email address, and telephone registered office). number. |
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 |
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