Source: OJ L, 2025/415, 24.3.2025

Article 1 Scope of application

Summary What does Article 1 of the RTS on stress test programmes say?

This is the scope article, defining precisely who this Regulation applies to.

It identifies three categories of entities that fall within its remit, all of which are issuers of either asset-referenced tokens or e-money tokens.

Notably, the third category introduces a conditional element: electronic money institutions issuing non-significant e-money tokens are only captured where a competent authority specifically requires it under Article 58(2) of Regulation (EU) 2023/1114, meaning the scope is not entirely automatic for all issuers.

Important points:

This Regulation applies to issuers of asset-referenced tokens, electronic money institutions issuing significant e-money tokens, and, conditionally, those issuing non-significant e-money tokens.
Electronic money institutions issuing non-significant e-money tokens are only in scope where required by a competent authority under Article 58(2) of Regulation (EU) 2023/1114.
Competent authorities therefore play a direct role in determining the full scope of entities subject to this Regulation.

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

This Regulation applies to the following issuers of asset-referenced tokens or e-money tokens:

issuers of asset-reference tokens;
electronic money institutions issuing significant e-money tokens;
electronic money institutions issuing e-money tokens that are not significant, where required by the competent authority under Article 58(2) of Regulation (EU) 2023/1114.

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