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  • Writer's pictureадв. Светослав Григоров

White paper for asset-referenced tokens

Updated: Jun 9, 2023

The issuer is a legal entity that has sent notification of the prepared and published white paper, which contains a description of:

- the issuer's management rules, description of the role, responsibilities, and accountability of third parties;

- asset reserve;

- the rules for custody of reserve assets and their separation;

- the policy for investing reserve assets;

- the possibilities for exercising rights;

- mechanisms for guaranteeing liquidity;

- the procedures for handling complaints;

- the elements subject to disclosure.

White paper for asset-referenced tokens

The crypto-asset white paper contains a brief summary in non-technical language that acts as an introduction. Does not constitute an offer to sell. It warns that the decision to buy a token is based on the content of the ledger.

The white paper shall be prepared in a machine-readable format, in at least one of the official languages ​​of the Member State, or in a language commonly used in international finance. The date of receipt is noted.

Liability in relation to the information provided in the crypto-asset white paper

When the issuer has provided information that is not complete, objective, clear, or misleading, the token holder may claim damages as a result. They need to provide evidence that this violation had an impact on the decision to purchase tokens.

No claim is possible if the white paper summary is misleading, inaccurate, inconsistent, or does not provide the most important information.

Limitation of civil liability is not permissible, without excluding claims under national legislation.

Regarding the white paper for asset-referenced tokens, please contact us by going to contacts.

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