{"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/40","url":"https://www.headlesslaw.com/mica/articles/40","title":"Article 40 — Prohibition of granting interest","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":"20870122ca717474","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/40/versions/2024-01-09","revision_url":"https://www.headlesslaw.com/mica/articles/40/versions/2024-01-09/rev/20870122ca717474","versions_url":"https://www.headlesslaw.com/mica/articles/40/versions","relations_url":"https://www.headlesslaw.com/mica/articles/40/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":"e807316d3aa242424d70b1a4590dbf2217a812f6afc5dc95dd013520435bc1d5","markdown_sha256":"3e5b3a5374803e5acb72ce235b6c1cf4ce9d341552b1f3e41077da2d24ca0b9a"},"units":[{"locator":"mica/art/40","kind":"article","status":"in_force","label":null,"heading":"Prohibition of granting interest","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"mica/art/40/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"Issuers of asset-referenced tokens shall not grant interest in relation to asset-referenced tokens.","marks":[],"revision":1,"text_hash":"4f97724b56ff89874ef5162f79bc8da1856c11fbac729d558b18bbf4cc0fa8bf","reason":null},{"locator":"mica/art/40/para/2","kind":"paragraph","status":"in_force","label":"2.","heading":null,"text":"Crypto-asset service providers shall not grant interest when providing crypto-asset services related to asset-referenced tokens.","marks":[],"revision":1,"text_hash":"0b342a3277cfa5ec3459d0348939c68059dc4d522af5edd2ff985e06a9a87949","reason":null},{"locator":"mica/art/40/para/3","kind":"paragraph","status":"in_force","label":"3.","heading":null,"text":"For the purposes of paragraphs 1 and 2, any remuneration or any other benefit related to the length of time during which a holder of asset-referenced tokens holds such asset-referenced tokens shall be treated as interest. That includes net compensation or discounts, with an effect equivalent to that of interest received by the holder of asset-referenced tokens, directly from the issuer or from third parties, and directly associated to the asset-referenced tokens or from the remuneration or pricing of other products.","marks":[],"revision":1,"text_hash":"4f02e7777ee5ee7511589c3d824ec65de40191dc94dbedb08f1ac4499b33efe0","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 not grant interest in relation to asset-referenced tokens.\n2. <a id=\"p-2\"></a>[Crypto-asset service providers](https://www.headlesslaw.com/definitions/mica/crypto-asset-service-provider) shall not grant interest when providing crypto-asset services related to [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token).\n3. <a id=\"p-3\"></a>For the purposes of paragraphs 1 and 2, any remuneration or any other benefit related to the length of time during which a holder of asset-referenced tokens holds such asset-referenced tokens shall be treated as interest. That includes net compensation or discounts, with an effect equivalent to that of interest received by the holder of asset-referenced tokens, directly from the [issuer](https://www.headlesslaw.com/definitions/mica/issuer) or from third parties, and directly associated to the asset-referenced tokens or from the remuneration or pricing of other products.\n\n### Related\n\n* [crypto-asset service](https://www.headlesslaw.com/definitions/mica/crypto-asset-service) — definition used in this article\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 3 — Reserve of assets · [← Article 39](39.md) · [Article 41 →](41.md)\n"}