{"release":{"id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","published":"2026-11-10T16:06:46Z","pinned":false},"limits":{"coverage":{"history":"full","held_since":"2023-06-09","gaps":[],"covered":["MiCA L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","release_published":"2026-11-10T16:06:46Z","checked_at":"2026-11-09","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mica/articles/27","url":"https://www.headlesslaw.com/mica/articles/27","title":"Article 27 — Obligation to act honestly, fairly and professionally in the best interest of the holders of asset-referenced tokens","family":"l1_hand","work_id":"mica","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-11","applies_from":"2024-06-30","application":{"state":"applicable","next":null,"dates":[{"at":"2024-06-30","note":"Article 149(3)"}]},"version_label":"Consolidated version of 9 January 2024","check":{"against":"EUR-Lex","on":"2026-11-09"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109","valid_from":"2024-01-09","valid_until":null,"revision":1,"content_id":"2e13c084d017a397","change_date":null,"nearest_versions":["2023-06-09","2024-01-09"],"first_text_date":"2023-05-31","correction_applies":false,"versions":["2023-06-09","2024-01-09"],"version_url":"https://www.headlesslaw.com/mica/articles/27/versions/2024-01-09","revision_url":"https://www.headlesslaw.com/mica/articles/27/versions/2024-01-09/rev/2e13c084d017a397","versions_url":"https://www.headlesslaw.com/mica/articles/27/versions","relations_url":"https://www.headlesslaw.com/mica/articles/27/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109","check":{"result":"matched","checked_at":"2026-11-09","against":"EUR-Lex"},"repo_path":null,"body_sha256":"6587c40174ab0815332759ffe1dc71f8c81d9f028d74d5df0ca471fce2d1c465","markdown_sha256":"94656512a0ab6b72db188a813e6cef0055360bf093d2987e32424726ba61e623"},"units":[{"locator":"mica/art/27","kind":"article","status":"in_force","label":null,"heading":"Obligation to act honestly, fairly and professionally in the best interest of the holders of asset-referenced tokens","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"mica/art/27/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"Issuers of asset-referenced tokens shall act honestly, fairly and professionally and shall communicate with the holders and prospective holders of asset-referenced tokens in a fair, clear and not misleading manner.","marks":[],"revision":1,"text_hash":"e21d07e661dbbb58c02ed5c3e84b3e0ff04054007b30d07e7110c6e191fd2db0","reason":null},{"locator":"mica/art/27/para/2","kind":"paragraph","status":"in_force","label":"2.","heading":null,"text":"Issuers of asset-referenced tokens shall act in the best interests of the holders of such tokens and shall treat them equally, unless any preferential treatment is disclosed in the crypto-asset white paper and, where applicable, the marketing communications.","marks":[],"revision":1,"text_hash":"a3376fe984a347d0696d2a27fcd8ee5f293a90a41a9fabc067498ec0da783aef","reason":null}],"markdown":"*In force · Consolidated version of 9 January 2024 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109)*\n\n1. <a id=\"p-1\"></a>[Issuers](https://www.headlesslaw.com/definitions/mica/issuer) of [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) shall act honestly, fairly and professionally and shall communicate with the holders and prospective holders of asset-referenced tokens in a fair, clear and not misleading manner.\n2. <a id=\"p-2\"></a>[Issuers](https://www.headlesslaw.com/definitions/mica/issuer) of [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) shall act in the best interests of the holders of such tokens and shall treat them equally, unless any preferential treatment is disclosed in the [crypto-asset](https://www.headlesslaw.com/definitions/mica/crypto-asset) white paper and, where applicable, the marketing communications.\n\n### Related\n\n* [crypto-asset](https://www.headlesslaw.com/definitions/mica/crypto-asset) — definition used in this article\n* [issuer](https://www.headlesslaw.com/definitions/mica/issuer) — definition used in this article\n\n***\n\n[Title III — Asset-referenced tokens](../titles/iii.md) › Chapter 2 — Obligations of issuers of asset-referenced tokens · [← Article 26](26.md) · [Article 28 →](28.md)\n"}