Art. 52 Liability of issuers of e-money tokens for the information given in a crypto-asset white paper | MiCA regulation | MiCA

1. Where an issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; of an e-money token has infringed Article 51, by providing in its 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 or in a modified 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, information that is not complete, fair or clear, or that is misleading, that issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; and the members of its administrative, management or supervisory body shall be liable to a holder of such e-money token for any loss incurred due to that infringement.
1. Any contractual exclusion or limitation of civil liability as referred to in paragraph 1 shall be deprived of legal effect.
1. It shall be the responsibility of the holder of the e-money token to present evidence indicating that the issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; of that e-money token has infringed Article 51 by providing in its 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 or in a modified 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 information that is not complete, fair or clear, or that is misleading and that reliance on such information had an impact on the holder’s decision to purchase, sell or exchange that e-money token.
1. The issuermeans a natural or legal person, or other undertaking, who issues crypto-assets; and the members of its administrative, management or supervisory bodies shall not be liable for loss suffered as a result of reliance on the information provided in a summary pursuant to Article 51(6), including any translation thereof, except where the summary:
  1. is misleading, inaccurate or inconsistent when read together with the other parts of the 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; or
  2. does not provide, when read together with the other parts of the 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, key information in order to aid prospective holders when considering whether to purchase such e-money tokens.
1. This Article is without prejudice to any other civil liability pursuant to national law.