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

Current language: EN

Article 82 Providing transfer services for crypto-assets on behalf of clients

Summary What does Article 82 of the MiCA regulation say?

This article sits within the broader framework governing how crypto-asset service providers (CASPs) must conduct themselves when offering specific services to clients.

It focuses narrowly on transfer services for crypto-assets, requiring CASPs that move crypto-assets from one distributed ledger address or account to another on behalf of clients to have a formal written agreement in place.

That agreement must cover the basics: who the parties are, how the service works, what security systems are in place, what fees apply, and which law governs.

The article also mandates that ESMA, working closely with EBA, issue guidelines covering procedures, policies, and client rights in the context of these transfer services.

Important points:

  • Conclude a formal client agreement covering the identity of parties, service modalities, security systems, fees, and applicable law before providing crypto-asset transfer services.
  • The agreement requirement applies specifically to CASPs providing transfer services, meaning those moving crypto-assets between distributed ledger addresses or accounts on a client's behalf.
  • ESMA, in close cooperation with EBA, is required to issue guidelines on procedures, policies, and client rights relating to these transfer services.

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

    1. Crypto-asset service providers providing transfer services for crypto-assets on behalf of clients shall conclude an agreement with their clients to specify their duties and their responsibilities. Such agreement shall include at least the following:

      1. the identity of the parties to the agreement;

      2. a description of the modalities of the transfer service provided;

      3. a description of the security systems used by the crypto-asset service provider;

      4. fees applied by the crypto-asset service provider;

      5. the applicable law.

    1. ESMA, in close cooperation with EBA, shall issue guidelines in accordance with Article 16 of Regulation (EU) No 1095/2010 for crypto-asset service providers providing transfer services for crypto-assets on behalf of clients as regards procedures and policies, including the rights of clients, in the context of transfer services for crypto-assets.

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