top of page
  • Writer's pictureадв. Светослав Григоров

Notification of the crypto-asset white paper

Updated: Jun 9, 2023

Issuers shall send a notification regarding the white paper of the crypto-asset to the competent authority in their home Member State. They inform about the starting date of the public offering of crypto-assets or their admission to trading on a platform.

No prior approval from competent authorities is required prior to publication. The reasons why a crypto-asset should be considered a financial instrument, electronic money, deposit, and structured deposit are presented.

Notification of the crypto-asset white paper

The notification shall be accompanied by a list of the host Member States in which the crypto-assets are intended to be publicly offered or admitted to trading on a platform. The competent authority shall, within 2 working days, notify the authorities in the host Member States of the public offering.

Also, the competent authority shall notify ESMA of the crypto-asset white paper by entering it in the Register of crypto-asset service providers.

Publication of the white paper

Issuers publish the white paper for the crypto-asset on their public website, prior to its public offering or admission to trading on a platform, and it remains available for the entire offering period.

Limited-time public offering of crypto-assets

Issuers that set a deadline for the public offering to publish the result on their website within 16 days after the registration of the crypto-assets.

They exercise effective monitoring and protection of funds by holding crypto-assets in the custody of a credit institution where the funds are fiat, or a licensed custodian and managing service provider for crypto-assets.

Permission to publicly offer or admit to trading crypto-assets

After publishing the crypto-assets white paper, issuers can offer it throughout the European Union and apply for admission to trading on a platform.

With regard to issuers, there are no additional requirements to provide information in connection with the offering of these crypto-assets or their admission to trading on a platform.

Modification to the published white paper

Issuers amend an already published white paper when the information would be relevant for prospective buyers to buy, or for current holders to sell or exchange.

The issuer publishes an announcement on its website regarding the modification to the white paper, as well as a summary of the reasons for this.

Issuers notify the competent authority of the home Member State of the modification to the white paper 7 working days before publication, explaining the reasons for the modification. The authority can exercise its statutory powers of investigation.

The competent authority of the Member State of origin shall notify the host Member State within 2 working days of the modification.

A modified white paper published on its website shall be electronically time-stamped. It is noted this is the current, last amended white paper. As all versions of her are held in public.

Regarding notification regarding the crypto-asset white paper, please contact us by going to contacts.

10 views0 comments


bottom of page