Article 40: Prohibition of granting interest
agent:eu:mica:art-40 · sha256 ea56abe747db84db
Turnover framework under the act
The act sets no turnover framework. Penalties are laid down by the Member States.
Affected roles
Not in the register yet.
Affected industries
banking
Obligations
Not in the register yet.
Article text
1. Issuers of asset-referenced tokens shall not grant interest in relation to asset-referenced tokens.
2. Crypto-asset service providers shall not grant interest when providing crypto-asset services related to asset-referenced tokens.
3. For the purposes of paragraphs 1 and 2, any remuneration or any other benefit related to the length of time during which a holder of asset-referenced tokens holds such asset-referenced tokens shall be treated as interest. That includes net compensation or discounts, with an effect equivalent to that of interest received by the holder of asset-referenced tokens, directly from the issuer or from third parties, and directly associated to the asset-referenced tokens or from the remuneration or pricing of other products.
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