Agent · mica-2023-1114-37
MiCA artikel 37: Custody of reserve assets
Structural tree: the article's own paragraphs, verbatim.
CELEX 32023R1114 · 2026-08-18 · Weight 74 · minimal-risk
OpenOpen reading. No metering is planned for this class.
- What this page is
- Agent, MiCA artikel 37
- Checked against the official source
- 2026-08-18Current
- Responsible publisher
- ExploreWorld Legal, editorial deskLiability position
Short answer
What does MiCA Article 37 require, and what outcome does the rule tree give?
MiCA Article 37 is tested here by a deterministic rule tree of 14 rules, built from the article's own conditions. The tree reads your facts and names the outcome that applies, starting with Paragraph 1 applies, carrying paragraph citation, content hash and read date 2026-08-18 against CELEX 32023R1114. The outcome is a machine classification, not a compliance decision.
MiCA Article 37Checked against the publisher 2026-08-18Official text
- Paragraph 1 applies. 1. Issuers of asset-referenced tokens shall establish, maintain and implement custody policies, procedures and contractual arrangements that ensure at all times that:
- Paragraph 2 applies. (a)
- Paragraph 3 applies. the reserve assets are not encumbered nor pledged as a financial collateral arrangement as defined in Article 2(1), point (a), of Directive 2002/47/EC of the European Parliament and of the Council (39);
A source reference, not legal advice.
Jurisdiction
The same agent, read through one country's lens.
Inputs
- in_scopeThe article applies to the situationboolean
- punktParagraph of the articleenum (1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14)
Rule tree
If: alla(in_scope = true, punkt = 1)
Paragraph 1 applies
1. Issuers of asset-referenced tokens shall establish, maintain and implement custody policies, procedures and contractual arrangements that ensure at all times that:
Paragraph 1
If: alla(in_scope = true, punkt = 2)
Paragraph 2 applies
(a)
Paragraph 2
If: alla(in_scope = true, punkt = 3)
Paragraph 3 applies
the reserve assets are not encumbered nor pledged as a financial collateral arrangement as defined in Article 2(1), point (a), of Directive 2002/47/EC of the European Parliament and of the Council (39);
Paragraph 3
If: alla(in_scope = true, punkt = 4)
Paragraph 4 applies
(b)
Paragraph 4
If: alla(in_scope = true, punkt = 5)
Paragraph 5 applies
the reserve assets are held in custody in accordance with paragraph 6 of this Article;
Paragraph 5
If: alla(in_scope = true, punkt = 6)
Paragraph 6 applies
(c)
Paragraph 6
If: alla(in_scope = true, punkt = 7)
Paragraph 7 applies
the issuers of asset-referenced tokens have prompt access to the reserve assets to meet any requests for redemption from the holders of asset-referenced tokens;
Paragraph 7
If: alla(in_scope = true, punkt = 8)
Paragraph 8 applies
(d)
Paragraph 8
If: alla(in_scope = true, punkt = 9)
Paragraph 9 applies
concentrations of the custodians of reserve assets are avoided;
Paragraph 9
If: alla(in_scope = true, punkt = 10)
Paragraph 10 applies
(e)
Paragraph 10
If: alla(in_scope = true, punkt = 11)
Paragraph 11 applies
risk of concentration of reserve assets is avoided.
Paragraph 11
If: alla(in_scope = true, punkt = 12)
Paragraph 12 applies
2. Issuers of asset-referenced tokens that issue two or more asset-referenced tokens in the Union shall have a custody policy in place for each pool of reserve of assets. Different issuers of asset-referenced tokens that have issued the same asset-referenced token shall operate and maintain a single custody policy.
Paragraph 12
If: alla(in_scope = true, punkt = 13)
Paragraph 13 applies
3. The reserve assets shall be held in custody by no later than five working days after the date of issuance of the asset-referenced token by one or more of the following:
Paragraph 13
If: alla(in_scope = true, punkt = 14)
Paragraph 14 applies
(a)
Paragraph 14
If no rule matches: The article is not stated to apply, or no paragraph is selected. The agent abstains rather than guesses.
The article text as read
- 11. Issuers of asset-referenced tokens shall establish, maintain and implement custody policies, procedures and contractual arrangements that ensure at all times that:
- 2(a)
- 3the reserve assets are not encumbered nor pledged as a financial collateral arrangement as defined in Article 2(1), point (a), of Directive 2002/47/EC of the European Parliament and of the Council (39);
- 4(b)
- 5the reserve assets are held in custody in accordance with paragraph 6 of this Article;
- 6(c)
- 7the issuers of asset-referenced tokens have prompt access to the reserve assets to meet any requests for redemption from the holders of asset-referenced tokens;
- 8(d)
- 9concentrations of the custodians of reserve assets are avoided;
- 10(e)
- 11risk of concentration of reserve assets is avoided.
- 122. Issuers of asset-referenced tokens that issue two or more asset-referenced tokens in the Union shall have a custody policy in place for each pool of reserve of assets. Different issuers of asset-referenced tokens that have issued the same asset-referenced token shall operate and maintain a single custody policy.
- 133. The reserve assets shall be held in custody by no later than five working days after the date of issuance of the asset-referenced token by one or more of the following:
- 14(a)
Lineage
Interface
Hashes
Artefacts
No legal advice. Deterministisk regeluppslagning. Ingen juridisk rådgivning, inget efterlevnadsbeslut, ingen bedömning av ett enskilt ärende.
Citation: 32023R1114 art. 37, Custody of reserve assets. ExploreWorld Legal, https://legal.exploreworldai.com/agent/mica-2023-1114/artikel-37 (hämtad 2026-08-18, bevis sha256:6384de785488ff9c, bygge legal-2026-08-25).