Article 112 Exercise of supervisory powers and powers to impose penalties

1. the gravity and the duration of the infringement;

2. whether the infringement has been committed intentionally or negligently;

3. the degree of responsibility of the natural or legal person responsible for the infringement;

4. the financial strength of the natural or legal person responsible for the infringement, as indicated by the total turnover of the responsible legal person or the annual income and net assets of the responsible natural person;

5. the importance of the profits gained or losses avoided by the natural or legal person responsible for the infringement, insofar as those can be determined;

6. the losses for third parties caused by the infringement, insofar as those can be determined;

7. the level of cooperation of the natural or legal person responsible for the infringement with the competent authoritymeans one or more authorities: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;, without prejudice to the need to ensure disgorgement of profits gained or losses avoided by that person;

8. previous infringements of this Regulation by the natural or legal person responsible for the infringement;

9. measures taken by the person responsible for the infringement to prevent its repetition;

10. the impact of the infringement on the interests of holders of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; and clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; of crypto-asset service providersmeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59;, in particular retail holdersmeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession;.

In the exercise of their powers to impose administrative penalties and other administrative measures under Article 111, competent authoritiesmeans one or more authorities: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; shall cooperate closely to ensure that the exercise of their supervisory and investigative powers, and the administrative penalties and other administrative measures that they impose, are effective and appropriate. They shall coordinate their action in order to avoid duplication and overlaps when exercising their supervisory and investigative powers and when imposing administrative penalties and other administrative measures in cross-border cases.