Art. 54 Investment of funds received in exchange for e-money tokens | MiCA regulation | MiCA

Fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; received by issuersmeans a natural or legal person, or other undertaking, who issues crypto-assets; of e-money tokens in exchange for e-money tokens and safeguarded in accordance with Article 7(1) of Directive 2009/110/EC shall comply with the following:

at least 30 % of the fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; received is always deposited in separate accounts in credit institutionsmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU;;
the remaining fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; received are invested in secure, low-risk assets that qualify as highly liquid financial instrumentsmeans financial instruments as defined in Article 4(1), point (15), of Directive 2014/65/EU; with minimal market risk, credit risk and concentration risk, in accordance with Article 38(1) of this Regulation, and are denominated in the same official currencymeans an official currency of a country that is issued by a central bank or other monetary authority; as the one referenced by the e-money token.