Art. 4 Request of missing information to a crypto-asset white paper | RTS on crypto-asset white paper approval | MiCA

This article sets out the remediation process that follows the completeness assessment conducted under Article 3.

Where the competent authority finds that a submitted crypto-asset white paper is incomplete, it triggers a structured back-and-forth process: the competent authority notifies the credit institution of what is missing, sets a deadline for the institution to respond, and specifies exactly what the revised submission must contain.

Notably, the 20-working-day assessment period from Article 3 is suspended while the credit institution prepares its response, though any further clarification requests beyond the first do not trigger additional suspensions.

Important points:

Competent authorities are required to notify the credit institution of missing information and set a deadline of no more than 20 working days for it to be provided.
Submit a revised white paper that includes a clean version, a tracked-changes version, and a written explanation of how the additions address the competent authority's request.
The Article 3 assessment clock is suspended only once, during the initial deadline set for missing information — further clarification requests do not pause it again.

1. Where the competent authority concludes that the crypto-asset white paper is not complete with regard to the requirements of Article 19(1) of Regulation (EU) 2023/1114, the competent authority shall inform the credit institution of the missing information and shall set a deadline by which that credit institution is required to provide the missing information.
1. The deadline for providing any missing information referred to in paragraph 1 shall not exceed 20 working days from the date of the request. Until the expiry of the deadline referred to in paragraph 1, the period set in Article 3 shall be suspended. Any further requests by the competent authority for completion or clarification of the information for the assessment under Article 3 shall be at its discretion but shall not result in a suspension of the set period.
1. Following any request from the competent authority referred to in paragraph 1, the credit institution shall submit a revised crypto-asset white paper to the competent authority within the deadline set in the request. The submission by the credit institution shall include the following:
  1. the revised crypto-asset white paper in a clean, unmarked version;
  2. the revised crypto-asset white paper in a version with all the changes clearly marked, highlighting all supplementary information that is new compared to the original version of the crypto-asset white paper submitted in accordance with Article 1;
  3. an explanation as to how the supplementary information, reflected in the version referred to in point (b), addresses the competent authority’s request pursuant to paragraph 1 for providing missing information.