Art. 2 Conditions under which an asset-referenced token or an e-money token is deemed to be used at large scale as referred to in Article 119(2), point (l) of Regulation (EU) 2023/1114 | RTS on consultative supervisory colleges | MiCA

1. For the purpose of Article 119(2), point (l) of Regulation (EU) 2023/1114, a significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or a significant e-money token shall be deemed to be used at large scale in a Member State, where:
  1. the number of holders of the significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or of the significant e-money token located in that Member State, on at least one day during the applicable reference period, is of at least 20 % of the population of that Member State; or
  2. the average number and average aggregate value of transactions per day with the significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or the significant e-money token during the reference period defined in Article 3 of this Regulation, where at least one party to the transactions is located in that Member State, is higher than 1 250 000 transactions and EUR 250 000 000 respectively.
1. For the purpose of paragraph 1, point (a), the holder of the significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or of the significant e-money token means the holder of that token that benefits of a right of redemption under Regulation (EU) 2023/1114.
1. For the purpose of paragraph 1, the location of a holder of the significant asset-referenced tokenmeans a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies; or of the significant e-money token, or of a party to a transaction with such tokens, refers to any of the following:
  1. for natural persons, their habitual residence;
  2. for legal persons, the registered office address.
1. A competent authoritymeans one or more authorities:designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens; requesting to become a member of the college based on point (l) of Article 119(2) of Regulation (EU) 2023/1114 shall submit a reasoned request to EBA and provide data showing that the criteria mentioned in paragraph 1 are met.