Article 14 Identification of clients that are legal entities

When providing to the 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; the information referred to in Articles 6 and 7, 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; shall identify any clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; that are legal entities by using a legal entity identifier code corresponding to those clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;.

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; shall record the legal entity identifier codes that comply with the ISO 17442 standard and are included in the Global LEI database maintained by the Central Operating Unit appointed by the Legal Entity Identifier Regulatory Oversight Committee.

1. is unique;

2. is neutral;

3. is reliable;

4. is open source;

5. is scalable;

6. is accessible;

7. is available for free or at a reasonable cost;

8. is subject to an appropriate governance framework.