Art. 123 General investigative powers | MiCA regulation | MiCA

1. In order to carry out its supervisory responsibilities under Article 117, EBA may conduct investigations into issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant asset-referenced tokensmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; and issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant e-money tokens. To that end, the officials and other persons authorised by EBA shall be empowered to:
  1. examine any records, data, procedures and any other material relevant to the execution of its tasks irrespective of the medium on which they are stored;
  2. take or obtain certified copies of or extracts from such records, data, procedures and other material;
  3. summon and ask any issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; of a significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; of a significant of e-money token, or their management bodymeans the body or bodies of an issuer, offeror or person seeking admission to trading, or of a crypto-asset service provider, which are appointed in accordance with national law, which are empowered to set the entity’s strategy, objectives and overall direction, and which oversee and monitor management decision-making in the entity and include the persons who effectively direct the business of the entity; or staff, for oral or written explanations of facts or documents relating to the subject matter and purpose of the investigation and to record the answers;
  4. interview any other natural or legal person who consents to be interviewed for the purposes of collecting information relating to the subject matter of an investigation;
  5. request records of telephone and data traffic.
2. A college as referred to in Article 119(1) shall be informed without undue delay of any findings that might be relevant for the execution of its tasks.
1. The officials and other persons authorised by EBA for the purposes of the investigation referred to in paragraph 1 shall exercise their powers upon the production of a written authorisation specifying the subject matter and purpose of the investigation. That authorisation shall also indicate the periodic penalty payments provided for in Article 132 where the required records, data, procedures or any other material, or the answers to questions posed to issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant asset-referenced tokensmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant e-money tokens, are not provided or are incomplete, and the fines provided for in Article 131, where the answers to questions posed to issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant asset-referenced tokensmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant e-money tokens are incorrect or misleading.
1. The issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant asset-referenced tokensmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; and issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of significant e-money tokens are required to submit to investigations launched based on a decision of EBA. The decision shall specify the subject matter and purpose of the investigation, the periodic penalty payments provided for in Article 132, the legal remedies available under Regulation (EU) No 1093/2010 and the right to have the decision reviewed by the Court of Justice.
1. Within a reasonable period before an investigation referred to in paragraph 1, EBA shall inform 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; of the Member State where the investigation is to be carried out of the investigation and of the identity of the authorised persons. Officials of 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; concerned shall, upon the request of EBA, assist those authorised persons in carrying out their duties. Officials of 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; concerned may also attend the investigations upon request.
1. If a request for records of telephone or data traffic referred to in paragraph 1, first subparagraph, point (e), requires authorisation from a court pursuant to applicable national law, EBA shall apply for such authorisation. Such authorisation may also be applied for as a precautionary measure.
1. Where a court in a Member State receives an application for the authorisation of a request for records of telephone or data traffic referred to in paragraph 1, first subparagraph, point (e), that court shall verify whether:
  1. the decision of EBA referred to in paragraph 3 is authentic;
  2. any measures to be taken are proportionate and not arbitrary or excessive.
1. For the purposes of paragraph 6, point (b), the court may ask EBA for detailed explanations, in particular relating to the grounds EBA has for suspecting that an infringement of this Regulation has taken place, the seriousness of the suspected infringement and the nature of the involvement of the person subject to the coercive measures. That court shall, however, not review the necessity for the investigation or demand that it be provided with the information on EBA’s file. The lawfulness of EBA’s decision shall be subject to review only by the Court of Justice following the procedure set out in Regulation (EU) No 1093/2010.