Source: OJ L, 2024/2545, 26.11.2024Current language: EN
Article 10 Unsolicited provision of information
Summary What does Article 10 of the ITS on competent authority information exchange say?
This article addresses the proactive, unsolicited sharing of information between competent authorities.
Unlike the preceding articles, which deal with formal requests for cooperation or exchange of information, Article 10 operates independently of any request — it places a duty on competent authorities to voluntarily transmit information to a peer authority whenever they believe that information would assist the other in carrying out its duties under Regulation (EU) 2023/1114.
Important points:
- Competent authorities are required to proactively share information with another competent authority without waiting to be asked, where they believe it would assist that authority in fulfilling its duties.
- Transmission must be made in writing, by post or electronic means, without undue delay, and using the form set out in Annex IV.
- The transmitting competent authority must specify the legal basis for providing the information.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Where a competent authority has information that it believes would assist another competent authority for the purposes of carrying out its duties under Regulation (EU) 2023/1114, it shall transmit that information in writing by post or electronic means to the other competent authority without undue delay, using the form set out in Annex IV, and specify the legal basis for the provision of the information.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.
Definition
placing of crypto-assets
Definition
official currency
Definition
distributed ledger
Definition
reception and transmission of orders for crypto-assets on behalf of clients
Definition
exchange of crypto-assets for funds
Definition
consensus mechanism
Definition
operation of a trading platform for crypto-assets
Definition
e-money token
Definition
crypto-asset service
- providing custody and administration of crypto-assets on behalf of clients;
- operation of a trading platform for crypto-assets;
- exchange of crypto-assets for funds;
- exchange of crypto-assets for other crypto-assets;
- execution of orders for crypto-assets on behalf of clients;
- placing of crypto-assets;
- reception and transmission of orders for crypto-assets on behalf of clients;
- providing advice on crypto-assets;
- providing portfolio management on crypto-assets;
- providing transfer services for crypto-assets on behalf of clients;
Definition
offer to the public
Definition
providing advice on crypto-assets
Definition
offeror
Definition
execution of orders for crypto-assets on behalf of clients
Definition
crypto-asset service provider
Definition
crypto-asset
Definition
DLT network node
Definition
funds
Definition
client
Definition
asset-referenced token
Definition
issuer
Definition
exchange of crypto-assets for other crypto-assets
Definition
electronic money token
Definition
providing custody and administration of crypto-assets on behalf of clients
Definition
providing transfer services for crypto-assets on behalf of clients
Definition
distributed ledger technology
Definition
competent authority
- designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;
- designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens;