Article 77: Exchange of crypto-assets for funds or other crypto-assets
agent:eu:mica:art-77 · sha256 23aa24045475e3e2
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. Crypto-asset service providers exchanging crypto-assets for funds or other crypto-assets shall establish a non-discriminatory commercial policy that indicates, in particular, the type of clients they agree to transact with and the conditions that shall be met by such clients.
2. Crypto-asset service providers exchanging crypto-assets for funds or other crypto-assets shall publish a firm price of the crypto-assets or a method for determining the price of the crypto-assets that they propose to exchange for funds or other crypto-assets, and any applicable limit determined by that crypto-asset service provider on the amount to be exchanged.
3. Crypto-asset service providers exchanging crypto-assets for funds or other crypto-assets shall execute client orders at the prices displayed at the time when the order for exchange is final. Crypto-asset service providers shall inform their clients of the conditions for their order to be deemed final.
4. Crypto-asset service providers exchanging crypto-assets for funds or other crypto-assets shall publish information about the transactions concluded by them, such as transaction volumes and prices.
Machine-readable formThe article in the registerChangesSource: NovaCopilot