Agent · mica-2023-1114-49
MiCA artikel 49: Issuance and redeemability of e-money tokens
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 49
- Checked against the official source
- 2026-08-18Current
- Responsible publisher
- ExploreWorld Legal, editorial deskLiability position
Short answer
What does MiCA Article 49 require, and what outcome does the rule tree give?
MiCA Article 49 is tested here by a deterministic rule tree of 6 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 49Checked against the publisher 2026-08-18Official text
- Paragraph 1 applies. 1. By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.
- Paragraph 2 applies. 2. Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.
- Paragraph 3 applies. 3. Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.
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)
Rule tree
If: alla(in_scope = true, punkt = 1)
Paragraph 1 applies
1. By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.
Paragraph 1
If: alla(in_scope = true, punkt = 2)
Paragraph 2 applies
2. Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.
Paragraph 2
If: alla(in_scope = true, punkt = 3)
Paragraph 3 applies
3. Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.
Paragraph 3
If: alla(in_scope = true, punkt = 4)
Paragraph 4 applies
4. Upon request by a holder of an e-money token, the issuer of that e-money token shall redeem it, at any time and at par value, by paying in funds, other than electronic money, the monetary value of the e-money token held to the holder of the e-money token.
Paragraph 4
If: alla(in_scope = true, punkt = 5)
Paragraph 5 applies
5. Issuers of e-money tokens shall prominently state the conditions for redemption in the crypto-asset white paper as referred to in Article 51(1), first subparagraph, point (d).
Paragraph 5
If: alla(in_scope = true, punkt = 6)
Paragraph 6 applies
6. Without prejudice to Article 46, the redemption of e-money tokens shall not be subject to a fee.
Paragraph 6
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. By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.
- 22. Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.
- 33. Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.
- 44. Upon request by a holder of an e-money token, the issuer of that e-money token shall redeem it, at any time and at par value, by paying in funds, other than electronic money, the monetary value of the e-money token held to the holder of the e-money token.
- 55. Issuers of e-money tokens shall prominently state the conditions for redemption in the crypto-asset white paper as referred to in Article 51(1), first subparagraph, point (d).
- 66. Without prejudice to Article 46, the redemption of e-money tokens shall not be subject to a fee.
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Hashes
Artefacts
No legal advice. Deterministisk regeluppslagning. Ingen juridisk rådgivning, inget efterlevnadsbeslut, ingen bedömning av ett enskilt ärende.
Citation: 32023R1114 art. 49, Issuance and redeemability of e-money tokens. ExploreWorld Legal, https://legal.exploreworldai.com/agent/mica-2023-1114/artikel-49 (hämtad 2026-08-18, bevis sha256:b12256ce61f3d2a5, bygge legal-2026-08-25).