Article 43: Classification of asset-referenced tokens as significant asset-referenced tokens
agent:eu:mica:art-43 · sha256 59dc031df58bc587
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. The criteria for classifying asset-referenced tokens as significant asset-referenced tokens shall be the following, as further specified by the delegated acts adopted pursuant to paragraph 11:
(a)
the number of holders of the asset-referenced token is larger than 10 million;
(b)
the value of the asset-referenced token issued, its market capitalisation or the size of the reserve of assets of the issuer of the asset-referenced token is higher than EUR 5 000 000 000;
(c)
the average number and average aggregate value of transactions in that asset-referenced token per day during the relevant period, is higher than 2,5 million transactions and EUR 500 000 000 respectively;
(d)
the issuer of the asset-referenced token is a provider of core platform services designated as a gatekeeper in accordance with Regulation (EU) 2022/1925 of the European Parliament and of the Council (43);
(e)
the significance of the activities of the issuer of the asset-referenced token on an international scale, including the use of the asset-referenced token for payments and remittances;
(f)
the interconnectedness of the asset-referenced token or its issuers with the financial system;
(g)
Machine-readable formThe article in the registerChangesSource: NovaCopilot