Article 2 General requirements

1. effective and ongoing monitoring, for the purposes of preventing, detecting and identifying ordersmeans each and every order, including each and every quote, irrespective of whether its purpose is initial submission, modification, update or cancellation of an order and irrespective of its type. and transactions where circumstances might exist indicating that market abuse has been committed, is being committed or is likely to be committed, of all ordersmeans each and every order, including each and every quote, irrespective of whether its purpose is initial submission, modification, update or cancellation of an order and irrespective of its type. received and transmitted, and all transactions in crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; executed;

2. effective and ongoing monitoring of aspects of the functioning of the DLT, for the purposes of detecting and identifying other aspects of the functioning of the distributed ledger technologyor ‘DLT’ means a technology that enables the operation and use of distributed ledgers;, including the consensus mechanismmeans the rules and procedures by which an agreement is reached, among DLT network nodes, that a transaction is validated;, where circumstances might exist indicating that market abuse has been committed, is being committed or is likely to be committed;

3. the transmission of STORs to competent authoritiesmeans 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; in accordance with the requirements set out in this Regulation and using the template set out in the Annex.

1. the capacity in which the ordermeans each and every order, including each and every quote, irrespective of whether its purpose is initial submission, modification, update or cancellation of an order and irrespective of its type. is placed or the transaction is executed;

2. the types of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; concerned;

3. whether the ordersmeans each and every order, including each and every quote, irrespective of whether its purpose is initial submission, modification, update or cancellation of an order and irrespective of its type. were placed or transactions executed on or outside a trading platform.

1. appropriate and proportionate in relation to the scale, size and nature of their business activity;

2. regularly assessed, at least through an annually conducted audit and internal review, and updated when necessary;

3. clearly documented in writing, including any changes or updates to them, for the purposes of compliance with this Regulation, and that the documented information is maintained for a period of 5 years.

Persons professionally arranging or executing transactions in crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; shall, upon request, provide the 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; with the information on the assessment referred to in paragraph 3, including information on the level of automation put in place.