# Article 2 — Conditions under which an asset-referenced token or an e-money token is deemed to be used at large scale as referred to in [Article 119(2)](../../articles/119.md), point (l) of Regulation (EU) 2023/1114 **Commission Delegated Regulation (EU) 2025/297 · binding · OJ L, 2025/297, 13.2.2025 · dated 31 Oct 2024 [in force]** *In force · Commission Delegated Regulation (EU) 2025/297, OJ L, 2025/297, 13.2.2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2025/297/oj/eng)* 1. For the purpose of [Article 119(2)](../../articles/119.md), point (l) of Regulation (EU) 2023/1114, a significant asset-referenced token or a significant e-money token shall be deemed to be used at large scale in a Member State, where:\ a) the number of holders of the significant asset-referenced token or of the significant e-money token located in that Member State, on at least one day during the applicable reference period, is of at least 20 % of the population of that Member State; or\ b) the average number and average aggregate value of transactions per day with the significant asset-referenced token or the significant e-money token during the reference period defined in Article 3 of this Regulation, where at least one party to the transactions is located in that Member State, is higher than 1 250 000 transactions and EUR 250 000 000 respectively.\\ 2. For the purpose of paragraph 1, point (a), the holder of the significant asset-referenced token or of the significant e-money token means the holder of that token that benefits of a right of redemption under Regulation (EU) 2023/1114. 3. For the purpose of paragraph 1, the location of a holder of the significant asset-referenced token or of the significant e-money token, or of a party to a transaction with such tokens, refers to any of the following:\ a) for natural persons, their habitual residence;\ b) for legal persons, the registered office address.\\ 4. A competent authority requesting to become a member of the college based on point (l) of [Article 119(2)](../../articles/119.md) of Regulation (EU) 2023/1114 shall submit a reasoned request to EBA and provide data showing that the criteria mentioned in paragraph 1 are met.