Article 13 Right of withdrawal

Retail holdersmeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; who purchase 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; other than 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 e-money tokens either directly from an offerormeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; or from a crypto-asset service providermeans 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; placing 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; on behalf of that offerormeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; shall have a right of withdrawal.

Retail holdersmeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; shall have a period of 14 calendar days within which to withdraw from their agreement to purchase 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; other than 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 e-money tokens without incurring any fees or costs and without being required to give reasons. The period of withdrawal shall begin from the date of the agreement of the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; to purchase those 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;.

All payments received from a retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; including, if applicable, any charges, shall be reimbursed without undue delay and in any event no later than 14 days from the date on which the offerormeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; or the crypto-asset service providermeans 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; placing 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; on behalf of that offerormeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; is informed of the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession;’s decision to withdraw from the agreement to purchase those 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;.

Such reimbursement shall be carried out using the same means of payment as that used by the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; for the initial transaction, unless the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; expressly agrees otherwise and provided that the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession; does not incur any fees or costs as a result of such reimbursement.

Offerorsmeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; 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; shall provide information on the right of withdrawal referred to in paragraph 1 in their crypto-assetmeans 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; white paper.

The right of withdrawal referred to in paragraph 1 shall not apply where the 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; have been admitted to trading prior to their purchase by the retail holdermeans any natural person who is acting for purposes which are outside that person’s trade, business, craft or profession;.

Where offerorsmeans a natural or legal person, or other undertaking, or the issuer, who offers crypto-assets to the public; have set a time limit on their offer to the publicmeans a communication to persons in any form, and by any means, presenting sufficient information on the terms of the offer and the crypto-assets to be offered so as to enable prospective holders to decide whether to purchase those crypto-assets; of such 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; in accordance with Article 10, the right of withdrawal shall not be exercised after the end of the subscription period.