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+Article 25 1. |
Article 25 1.Issuers of asset-referenced tokens shall notify the competent authority of their home Member State of any intended change of their business model likely to have a significant influence on the purchase decision of any holders or prospective holders of asset-referenced tokens, which occurs after the authorisation pursuant to Article 21 or after the approval of the crypto-asset white paper pursuant to Article 17, as well as in the context of Article 23. Such changes include, amongst others, any material modifications to:
(a)
the governance arrangements, including reporting lines to the management body and risk management framework;
(b)
the reserve assets and the custody of the reserve assets;
(c)
the rights granted to the holders of asset-referenced tokens;
(d)
the mechanism through which an asset-referenced token is issued and redeemed;
(e)
the protocols for validating the transactions in asset-referenced tokens;
(f)
the functioning of issuers’ proprietary distributed ledger technology, where the asset-referenced tokens are issued, transferred and stored using such a distributed ledger technology;
(g)
the mechanisms to ensure the liquidity of asset-referenced tokens, including the liquidity management policy and procedures for issuers of significant asset-referenced tokens referred to in Article 45;
(h)
the arrangements with third-party entities, including for managing the reserve assets and the investment of the reserve, the custody of reserve assets, and, where applicable, the distribution of the asset-referenced tokens to the public;
(i)
the complaints-handling procedures;
(j)
the money laundering and terrorist financing risk assessment and general policies and procedures related thereto. Issuers of asset-referenced tokens shall notify the competent authority of their home Member State at least 30 working days before the intended changes take effect. 1. Panoramica
1.1 Riferimenti1.2 Requisiti identificati1.3 Standard correlati2. Requisiti identificati
3. Standard correlati
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