--- title: "Article 97 — Promotion of convergence on the classification of crypto-assets" type: regulation legal_status: in_force source: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109" shortTitle: "Article 97 — Promotion of convergence on the classification of crypto-assets" instrument_type: level1_regulation authority: Commission binding: true binding_character: binding mica_level2: false legal_basis: Regulation (EU) 2023/1114 instrument: mica celex: 32023R1114 text_version: "Consolidated version of 9 January 2024" source_url: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109" check_status: matched verified: true last_checked: 2026-11-09 --- *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)* 1. By 30 December 2024, the ESAs shall jointly issue guidelines in accordance with Article 16 of Regulation (EU) No 1093/2010, Article 16 of Regulation (EU) No 1094/2010 and Article 16 of Regulation (EU) No 1095/2010 to specify the content and form of the explanation accompanying the [crypto-asset](https://www.headlesslaw.com/definitions/mica/crypto-asset) white paper referred to in [Article 8](8.md)(4) and of the legal opinions on the qualification of [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) referred to in [Article 17](17.md)(1), point (b)(ii), and [Article 18](18.md)(2), point (e). The guidelines shall include a template for the explanation and the opinion and a standardised test for the classification of crypto-assets. 2. The ESAs shall, in accordance with Article 29 of Regulation (EU) No 1093/2010, Article 29 of Regulation (EU) No 1094/2010 and Article 29 of Regulation (EU) No 1095/2010, respectively, promote discussion among [competent authorities](https://www.headlesslaw.com/definitions/mica/competent-authority) on the classification of the [crypto-assets](https://www.headlesslaw.com/definitions/mica/crypto-asset), including on the classification of those crypto-assets that are excluded from the scope of this Regulation pursuant to [Article 2](2.md)(3). The ESAs shall also identify the sources of potential divergences in the approaches of the competent authorities to the classification of those crypto-assets and shall, to the extent possible, promote a common approach thereto. 3. [Competent authorities](https://www.headlesslaw.com/definitions/mica/competent-authority) of the home or the [host Member States](https://www.headlesslaw.com/definitions/mica/host-member-state) may request ESMA, EIOPA or EBA, as appropriate, for an opinion on the classification of crypto-assets, including those that are excluded from the scope of this Regulation pursuant to [Article 2](2.md)(3). ESMA, EIOPA or EBA, as applicable, shall provide such opinion in accordance with Article 29 of Regulation (EU) No 1093/2010, Article 29 of Regulation (EU) No 1094/2010 and Article 29 of Regulation (EU) No 1095/2010, as applicable, within 15 working days of receipt of the request from the competent authorities. 4. The ESAs shall jointly draw up an annual report based on the information contained in the register referred to in [Article 109](109.md) and on the results of their work referred to in paragraphs 2 and 3 of this Article, identifying difficulties in the classification of crypto-assets and divergences in the approaches of the competent authorities. *** ### Related * [crypto-asset](https://www.headlesslaw.com/definitions/mica/crypto-asset) — definition used in this article ## Related Level 2 and Level 3 ### Guidance and Q&A - [JC 2024/28 — Guideline — Crypto Classification Test \[final\]](../level-3/guidelines/esas-guidelines-on-templates-for-explanations-and-opinions-and-the-standardised-test.md) *** [Title VII — Competent authorities, EBA and ESMA](../titles/vii.md) › Chapter 1 — Powers of competent authorities and cooperation between competent authorities, EBA and ESMA · [← Article 96](96.md) · [Article 98 →](98.md)