Article 79: Placing of crypto-assets
agent:eu:mica:art-79 · sha256 2842ab62fab7d697
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 placing crypto-assets shall communicate the following information to the offeror, to the person seeking admission to trading, or to any third party acting on their behalf, before entering into an agreement with them:
(a)
the type of placement under consideration, including whether a minimum amount of purchase is guaranteed or not;
(b)
an indication of the amount of transaction fees associated with the proposed placing;
(c)
the likely timing, process and price for the proposed operation;
(d)
information about the targeted purchasers.
Crypto-asset service providers placing crypto-assets shall, before placing those crypto-assets, obtain the agreement of the issuers of those crypto-assets or any third party acting on their behalf as regards the information listed in the first subparagraph.
2. Crypto-asset service providers’ rules on conflicts of interest referred to in Article 72(1) shall have specific and adequate procedures in place to identify, prevent, manage and disclose any conflicts of interest arising from the following situations:
(a)
crypto-asset service providers place the crypto-assets with their own clients;
(b)
Machine-readable formThe article in the registerChangesSource: NovaCopilot