> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/mica/articles/10.md).

# Article 10 — Result of the offer to the public and safeguarding arrangements

*In force · Consolidated version of 9 January 2024 · Checked against EUR-Lex on 19 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109)

1. [Offerors](https://www.headlesslaw.com/definitions/mica/offeror) of [crypto-assets](https://www.headlesslaw.com/definitions/mica/crypto-asset) other than [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) or [e-money tokens](https://www.headlesslaw.com/definitions/mica/electronic-money-token) that set a time limit on their [offer to the public](https://www.headlesslaw.com/definitions/mica/offer-to-the-public) of those crypto-assets shall publish on their website the result of the offer to the public within 20 working days of the end of the subscription period.
2. [Offerors](https://www.headlesslaw.com/definitions/mica/offeror) of crypto-assets other than [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) or [e-money tokens](https://www.headlesslaw.com/definitions/mica/electronic-money-token) that do not set a time limit on their [offer to the public](https://www.headlesslaw.com/definitions/mica/offer-to-the-public) of those crypto-assets shall publish on their website on an ongoing basis, at least monthly, the number of units of the crypto-assets in circulation.
3. Offerors of [crypto-assets](https://www.headlesslaw.com/definitions/mica/crypto-asset) other than asset-referenced tokens or e-money tokens that set a time limit on their [offer to the public](https://www.headlesslaw.com/definitions/mica/offer-to-the-public) of crypto-assets shall have effective arrangements in place to monitor and safeguard the [funds](https://www.headlesslaw.com/definitions/mica/funds) or other crypto-assets raised during the offer to the public. For that purpose, those offerors shall ensure that the funds or crypto-assets collected during the offer to the public are kept in custody by one or both of the following:

   **(a)** a [credit institution](https://www.headlesslaw.com/definitions/mica/credit-institution), where [funds](https://www.headlesslaw.com/definitions/mica/funds) are raised during the [offer to the public](https://www.headlesslaw.com/definitions/mica/offer-to-the-public);

   **(b)** a [crypto-asset service provider](https://www.headlesslaw.com/definitions/mica/crypto-asset-service-provider) [providing custody and administration of crypto-assets on behalf of clients](https://www.headlesslaw.com/definitions/mica/providing-custody-and-administration-of-crypto-assets-on-behalf-of-clients).
4. When the offer to the public has no time limit, the [offeror](https://www.headlesslaw.com/definitions/mica/offeror) shall comply with paragraph 3 of this Article until the right of withdrawal of the [retail holder](https://www.headlesslaw.com/definitions/mica/retail-holder) pursuant to [Article 13](/mica/articles/13.md) has expired.

#### Related

* [providing custody and administration of crypto-assets on behalf of clients](https://www.headlesslaw.com/definitions/mica/providing-custody-and-administration-of-crypto-assets-on-behalf-of-clients) — definition used in this article
* [crypto-asset service provider](https://www.headlesslaw.com/definitions/mica/crypto-asset-service-provider) — definition used in this article
* [crypto-asset service](https://www.headlesslaw.com/definitions/mica/crypto-asset-service) — definition used in this article
* [offer to the public](https://www.headlesslaw.com/definitions/mica/offer-to-the-public) — definition used in this article
* [credit institution](https://www.headlesslaw.com/definitions/mica/credit-institution) — definition used in this article

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[Title II — Crypto-assets other than asset-referenced tokens or e-money tokens](/mica/titles/ii.md) · [← Article 9](/mica/articles/9.md) · [Article 11 →](/mica/articles/11.md)