Source: OJ L, 2025/415, 24.3.2025Current language: EN
- Markets in crypto-assets
ART/EMT issuer
- RTS on stress test programmes
Article 3 Timeframe
Without prejudice to paragraph 2, the competent authority shall set a timeframe for the issuer of asset-referenced tokens or e-money tokens to adjust to higher own fund requirements, set on the basis of the assessment by the competent authority referred to in Article 35(3) of Regulation (EU) 2023/1114, that cannot exceed six months from the notification of the final decision referred to in Article 2(4).
When the competent authority sets the timeframe for the issuer of asset-referenced tokens or e-money tokens to adjust to higher own fund requirements, it shall take into account any potential higher degree of risk that can have a material impact on the financial stability of the wider financial system or of the issuer and any potential deficiencies in relevant issuer’s governance or business model.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.
- 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;