Article 50: Prohibition of granting interest
agent:eu:mica:art-50 · sha256 bc402fa8255304de
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. Notwithstanding Article 12 of Directive 2009/110/EC, issuers of e-money tokens shall not grant interest in relation to e-money tokens.
2. Crypto-asset service providers shall not grant interest when providing crypto-asset services related to e-money 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 an e-money token holds such e-money token shall be treated as interest. That includes net compensation or discounts, with an effect equivalent to that of interest received by the holder of the e-money token, directly from the issuer or from third parties, and directly associated to the e-money token or from the remuneration or pricing of other products.
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