Source: OJ L, 2025/416, 14.3.2025

Current language: EN

Article 2 Identification of the parties involved in the order


    1. For all orders 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;, crypto-asset service providersmeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; operating a trading platform for 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 keep records to identify all of the following:

      1. the participant to the trading platform for 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; that is a legal entity and submits the order to the trading platform for 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;, as identified in accordance with Article 4 and field 1 of Table 2 of the Annex;

      2. the participant to the trading platform for 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; who is a natural person and submits the order to the trading platform for 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;, as identified in accordance with field 2 of Table 2 of the Annex;

      3. the clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; on whose behalf the participant to the trading platform for 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; referred to in points (a) or (b) submits the order to the trading platform for 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;, as identified in accordance with field 3 of Table 2 of the Annex;

      4. the person or the computer algorithm within the participant to the trading platform for 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; referred to in points (a) and (b) that is responsible for the investment decision in relation to the order, as identified in accordance with field 4 of Table 2 of the Annex;

      5. the person or the computer algorithm within the participant to the trading platform for 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; referred to in points (a) and (b) that is responsible for the execution of the order, as identified in accordance with field 5 of Table 2 of the Annex.

    2. For the purposes of point (d), where more than one persons take the investment decision, the crypto-asset service providermeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; operating a trading platform for 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 keep records of the person with primary responsibility for that decision. A crypto-asset service providermeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; operating a trading platform for 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 only identify such a person or computer algorithm where the investment decision is made on behalf of either the participant, or a clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; in accordance with a discretionary mandate to it by the clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;.

    1. Where a participant to the trading platform for 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; intends to allocate an order to its clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; following submission of the order to the trading platform for 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; and has not yet allocated the order to its clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; at the time of the submission of the order, that clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; shall be identified as specified in field 3 of Table 2 of the Annex.

    1. Where several orders of different clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; are submitted to the trading platform for 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; together as an aggregated order, the information referred to in field 3 of Table 2 of the Annex shall be recorded in respect of each clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;.

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