Article 13 Right of withdrawal

Summary What does Article 13 of the MiCA regulation say?

This article establishes a right of withdrawal for retail holders who purchase crypto-assets (excluding asset-referenced tokens and e-money tokens) directly from an offeror or through a crypto-asset service provider placing those assets on the offeror's behalf.

It sets out the mechanics of that right: the timeframe to exercise it, how reimbursement must be handled, and the circumstances in which the right does not apply.

It connects closely to Article 10, which governs time-limited public offers, and to the broader consumer protection framework running through Title II of the regulation.

Important points:

Retail holders have 14 calendar days from the date of their purchase agreement to withdraw, at no cost and without giving reasons.
Offerors and crypto-asset service providers are required to reimburse all payments, including any charges, within 14 days of being informed of the withdrawal, using the same means of payment as the original transaction.
The right of withdrawal does not apply where the crypto-assets were already admitted to trading before the retail holder purchased them, or once the subscription period of a time-limited offer has ended.

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

1. Retail holders who purchase crypto-assets other than asset-referenced tokens and e-money tokens either directly from an offeror or from a crypto-asset service provider placing crypto-assets on behalf of that offeror shall have a right of withdrawal.
2. Retail holders shall have a period of 14 calendar days within which to withdraw from their agreement to purchase crypto-assets other than asset-referenced tokens 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 holder to purchase those crypto-assets.
1. All payments received from a retail holder 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 offeror or the crypto-asset service provider placing crypto-assets on behalf of that offeror is informed of the retail holder’s decision to withdraw from the agreement to purchase those crypto-assets.
2. Such reimbursement shall be carried out using the same means of payment as that used by the retail holder for the initial transaction, unless the retail holder expressly agrees otherwise and provided that the retail holder does not incur any fees or costs as a result of such reimbursement.
1. Offerors of crypto-assets shall provide information on the right of withdrawal referred to in paragraph 1 in their crypto-asset white paper.
1. The right of withdrawal referred to in paragraph 1 shall not apply where the crypto-assets have been admitted to trading prior to their purchase by the retail holder.
1. Where offerors have set a time limit on their offer to the public of such crypto-assets in accordance with Article 10, the right of withdrawal shall not be exercised after the end of the subscription period.

Table of contents

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.

Relevant recitals