Source: OJ L 150, 9.6.2023, pp. 40–205

Current language: EN

Article 29 Marketing communications

Summary What does Article 29 of the MiCA regulation say?

This article sets out the marketing communications rules that apply specifically to issuers of asset-referenced tokens, mirroring the broader marketing communication standards found elsewhere in the regulation but tailored to this token type.

It establishes a clear framework: communications must be honest, consistent with the published crypto-asset white paper, and must not go out before the white paper itself is published.

Competent authorities have no prior approval role here, though they can request to see communications after publication.

Important points:

  • Ensure all marketing communications for asset-referenced tokens are fair, clearly identifiable as marketing, consistent with the white paper, and include issuer contact details and a reference to the white paper's location.
  • Every marketing communication must contain an explicit statement that holders have a right of redemption against the issuer at any time.
  • Competent authorities are not required to approve marketing communications before publication, but issuers must provide them upon request.

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

    1. Any marketing communications relating to an offer to the public of an asset-referenced token, or to the admission to trading of such asset-referenced token, shall comply with all of the following requirements:

      1. the marketing communications are clearly identifiable as such;

      2. the information in the marketing communications is fair, clear and not misleading;

      3. the information in the marketing communications is consistent with the information in the crypto-asset white paper;

      4. the marketing communications clearly state that a crypto-asset white paper has been published and clearly indicate the address of the website of the issuer of the asset-referenced token, as well as a telephone number and an email address to contact the issuer.

    1. Marketing communications shall contain a clear and unambiguous statement that the holders of the asset-referenced token have a right of redemption against the issuer at any time.

    1. Marketing communications and any modifications thereto shall be published on the issuer’s website.

    1. Competent authorities shall not require prior approval of marketing communications before their publication.

    1. Marketing communications shall be notified to competent authorities upon request.

    1. No marketing communications shall be disseminated prior to the publication of the crypto-asset white paper. Such restriction does not affect the ability of the issuer of the asset-referenced token to conduct market soundings.

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