Source: OJ L, 2025/298, 13.2.2025

Article 2 Definitions

Summary What does Article 2 of the RTS on non-EU currencies say?

This is a definitions article, establishing the precise meaning of three key terms used throughout the regulation.

The terms defined here — single currency area, custodial wallet, and non-custodial wallet — are foundational to understanding how issuers must classify and assess transactions when estimating the use of asset-referenced tokens as a means of exchange, as required by the broader methodology set out in Articles 3 and 4.

Important points:

A single currency area covers one or more countries sharing the same official currency, which is the geographic boundary used to assess transaction volumes.
A custodial wallet is one where a crypto-asset service provider holds or controls access to crypto-assets on behalf of a client.
A non-custodial wallet is one where the user themselves retains control of access to their crypto-assets, including via private cryptographic keys.

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

For the purposes of this Regulation, the following definitions shall apply:

‘single currency area’ means one or several countries that have the same official currency;
‘custodial wallet’ means a crypto-asset wallet address where a crypto-asset service provider ensures the safekeeping or controlling, on behalf of its client, of crypto-assets or of the means of access to such crypto-assets, where applicable in the form of private cryptographic keys;
‘non-custodial wallet’ means a crypto-asset wallet address where the user controls the means of access to the crypto-assets, where applicable in the form of private cryptographic keys.

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