Skip to the text
Text as of 29 Jun 2023 · Original act (Official Journal of 9 June 2023) · Same wording as today’s text.Today’s text

Article 49 — Issuance and redeemability of e-money tokens

Financial servicesLevel 1RegulationMiCAApplies from 30 Jun 2024VerifiedOfficial source

49(1)

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.

Copy link
49(2)

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

Copy link
49(3)

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

Copy link
49(4)

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 e-money token.

Copy link
49(5)

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).

Copy link
49(6)

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

Copy link