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MiCA Article 49 — held text

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MiCA Article 49 — held text Article 49 Issuance and redeemability of e-money tokens 1.

By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.  2.

Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.

3.

Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.

4.

Upon request by a holder of an e-money token, the issuer of that e-money token shall redeem it, at any time and at par value, by paying in funds, other than electronic money, the monetary value of the e-money token held to the holder of the emoney token.

5.

Issuers of e-money tokens shall prominently state the conditions for redemption in the crypto-asset white paper as referred to in Article 51(1), first subparagraph, point (d).

6.

Without prejudice to Article 46, the redemption of e-money tokens shall not be subject to a fee.

32023R1114

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 49; PDF page 43; derived-text line 2931

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