Article 11 Rights of offerors and persons seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens

Summary What does Article 11 of the MiCA regulation say?

This article establishes the "passport" effect of a published crypto-asset white paper.

Once offerors have complied with the white paper publication requirements set out in Articles 9 and 12, they are free to offer crypto-assets (other than asset-referenced tokens or e-money tokens) across the entire Union and seek admission to trading on any Union trading platform.

Crucially, it also makes clear that no additional information requirements can be imposed on top of what has already been published.

Important points:

Once the white paper obligations under Articles 9 and 12 are met, offerors can operate Union-wide without further barriers.
No additional information requirements apply to the public offer or admission to trading once the white paper has been published.
This article acts as the reward or outcome for complying with the white paper rules — it is the direct consequence of satisfying those earlier obligations.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. After publication of the crypto-asset white paper in accordance with Article 9 and, where applicable, of the modified crypto-asset white paper in accordance with Article 12, offerors may offer crypto-assets other than asset-referenced tokens or e-money tokens throughout the Union and such crypto-assets may be admitted to trading on a trading platform for crypto-assets in the Union.
1. Offerors and persons seeking admission to trading of crypto-assets other than asset-referenced tokens or e-money tokens that have published a crypto-asset white paper in accordance with Article 9 and, where applicable, a modified crypto-asset white paper pursuant to Article 12, shall not be subject to any further information requirements with regard to the offer to the public or the admission to trading of that crypto-asset.

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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.

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