Art. 8 Request of changes to a crypto-asset white paper | RTS on crypto-asset white paper approval | MiCA

This article governs the substantive review phase of the crypto-asset white paper approval process, picking up where Article 7 leaves off.

Once the ECB or relevant central bank has issued a positive opinion — or the 20-working-day window for their opinion has passed without one — the competent authority has 10 working days to request changes to the white paper from the credit institution.

The article then sets out the mechanics of how the credit institution must respond to such a request, including what its revised submission must contain.

Important points:

Competent authorities may request duly justified changes to the crypto-asset white paper within 10 working days of the ECB/central bank opinion or the expiry of their opinion window.
Submit a revised white paper within 10 working days of receiving the request for changes from the competent authority.
Your revised submission must include three components: a clean version, a tracked-changes version, and a written explanation of how the changes address the competent authority's request.

1. Within 10 working days of a positive opinion by the ECB or, where applicable, the relevant central bank as referred to in Article 17(5), first subparagraph, of Regulation (EU) 2023/1114, or following the expiration of the period of 20 working days laid down in Article 17(5), second subparagraph, of that Regulation without any opinion issued by the ECB or the relevant central bank, the competent authority may notify the credit institution of a duly justified request for changes of the crypto-asset white paper. The request shall set a deadline by which that credit institution is required to provide the updated crypto-asset white paper.
1. The deadline for the credit institution to provide the updated crypto-asset white paper requested by the competent authority as referred to in paragraph 1 shall not exceed 10 working days following the issuance of the request for changes by the competent authority.
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 out in the request. The submission by the credit institution shall include all of 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 changes made compared to the version of the crypto-asset white paper submitted either in accordance with Article 1, or, where additional information had been requested by the competent authority, in accordance with Article 4;
  3. an explanation as to how the changes made, reflected in the version referred to in point (b), address the competent authority’s request, pursuant to paragraph 1, for making substantive changes to the crypto-asset white paper.