Artikel 14 Tausch von Kryptowerten gegen einen Geldbetrag oder gegen andere Kryptowerte

This is one of the more concise, service-specific articles in the regulation, targeting only those applicants intending to offer crypto-asset exchange services — that is, swapping crypto-assets for funds or for other crypto-assets.

It feeds directly into the broader authorisation requirements of Article 62(2) of MiCA (Regulation (EU) 2023/1114), specifically point (o), and requires applicants to submit two focused pieces of information to the competent authority: their commercial policy and their pricing methodology.

The pricing element notably must address how volume and market volatility factor into the pricing mechanism, signalling regulatory interest in transparency around how prices are set in what can be a highly volatile market.

Important points:

• Applicants intending to exchange crypto-assets for funds or other crypto-assets must submit their commercial policy and pricing methodology as part of their authorisation application.
• Describe your method for determining crypto-asset prices, including how volume and market volatility influence the pricing mechanism.
• This article applies exclusively to applicants offering exchange services and does not apply to those seeking authorisation for other crypto-asset services.