Article 2 Scope

persons who provide crypto-asset services exclusively for their parent companies, for their own subsidiaries or for other subsidiaries of their parent companies;

a liquidator or an administrator acting in the course of an insolvency procedure, except for the purposes of Article 47;

the ECB, central banks of the Member States when acting in their capacity as monetary authorities, or other public authorities of the Member States;

the European Investment Bank and its subsidiaries;

the European Financial Stability Facility and the European Stability Mechanism;

public international organisations.

financial instruments;

deposits, including structured deposits;

funds, except if they qualify as e-money tokens;

securitisation positions in the context of a securitisation as defined in Article 2, point (1), of Regulation (EU) 2017/2402;

non-life or life insurance products falling within the classes of insurance listed in Annexes I and II to Directive 2009/138/EC of the European Parliament and of the Council ( 1 ) or reinsurance and retrocession contracts referred to in that Directive;

pension products that, under national law, are recognised as having the primary purpose of providing the investor with an income in retirement and that entitle the investor to certain benefits;

officially recognised occupational pension schemes falling within the scope of Directive (EU) 2016/2341 of the European Parliament and of the Council ( 2 ) or Directive 2009/138/EC;

individual pension products for which a financial contribution from the employer is required by national law and where the employer or the employee has no choice as to the pension product or provider;

a pan-European Personal Pension Product as defined in Article 2, point (2), of Regulation (EU) 2019/1238 of the European Parliament and of the Council ( 3 );

social security schemes covered by Regulations (EC) No 883/2004 ( 4 ) and (EC) No 987/2009 of the European Parliament and of the Council ( 5 ).