Article 119: Colleges for issuers of significant asset-referenced tokens and significant e-money tokens

1. Within 30 calendar days of a decision to classify an asset-referenced token or e-money token as significant pursuant to Article 43, 44, 56 or 57, as applicable, EBA shall establish, manage and chair a consultative supervisory college for each issuer of a significant asset-referenced token or of a significant e-money token, to facilitate the exercise of supervisory tasks and act as a vehicle for the coordination of supervisory activities under this Regulation.

2. A college referred to in paragraph 1 shall consist of:

(a)

EBA;

(b)

ESMA;

(c)

the competent authorities of the home Member State where the issuer of the significant asset-referenced token or of the significant e-money token is established;

(d)

the competent authorities of the most relevant crypto-asset service providers, credit institutions or investment firms ensuring the custody of the reserve assets in accordance with Article 37 or of the funds received in exchange of the significant e-money tokens;

(e)

where applicable, the competent authorities of the most relevant trading platforms for crypto-assets where the significant asset-referenced tokens or the significant e-money tokens are admitted to trading;

(f)

the competent authorities of the most relevant payment service providers providing payment services in relation to the significant e-money tokens;