MiCA Recital (43) — preamble

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(43) Offers to the public of asset-referenced tokens in the Union or seeking admission to trading of such crypto-assets should be permitted only where the competent authority has authorised the issuer of such crypto-assets to do so and has approved the relevant crypto-asset white paper. The authorisation requirement should however not apply where the asset-referenced tokens are addressed solely to qualified investors or where the offer to the public of the assetreferenced tokens is below EUR 5 000 000. In those cases, the issuer of the asset-referenced tokens should still be required to draw up a crypto-asset white paper to inform buyers about the characteristics and risks of the assetreferenced tokens and should also be required to notify the crypto-asset white paper to the competent authority before its publication.

CELEX: 32023R1114 · provision: 43
Locator: Recital (43); PDF page 6; derived-text line 385
Held artifact: docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf
Artifact SHA-256: 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b
Captured: 20260823T093000Z
Extracted with: pdftotext version 4.00
Official source: EUR-Lex
This version: /celex/32023R1114/RECITAL_43/20260823-32c6d21e/
Corpus Merkle root: 581628a5b36518981241d2b51f048aa46384f30a74bf648ef542c652028cdeff
Membership proof: 10 hashes — see corpus-proof.json
Modal verbs, counted verbatim (not a legal characterisation): 'shall not': 0 · 'shall': 0 · 'must': 0 · 'may not': 0 · 'may': 0 · 'should': 4

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