MiCA Recital (99) — preamble

This page is a held version, frozen at the capture below. It is a source for review. It is not advice, and it does not determine whether this provision applies to you.

(99) Competent authorities should also have the power to impose penalties on issuers, offerors or persons seeking admission to trading of crypto-assets, including asset-referenced tokens or e-money tokens, and on crypto-asset service providers. When determining the type and level of an administrative penalty or other administrative measure, competent authorities should take into account all relevant circumstances, including the gravity and the duration of the infringement and whether it was committed intentionally.

CELEX: 32023R1114 · provision: 99
Locator: Recital (99); PDF page 12; derived-text line 806
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_99/20260823-32c6d21e/
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': 2

To verify independently: fetch the official source above, extract it with the named tool, and confirm the artifact SHA-256 matches. Then check this provision's leaf against the published Merkle root using the proof in corpus-proof.json.