Article 1 — Definitions

1.‘transaction’ means the conclusion of an acquisition or disposal of crypto-assets other than the crypto-assets referred to in Article 2(3) and (4) of Regulation (EU) 2023/1114;\

2.‘undertaking a transaction’ means executing a transaction or transmitting an order for crypto-assets on behalf of a client;\

3.‘executing a transaction’ means providing any of the following services or performing any of the following activities that result in a transaction:
a) reception and transmission of orders for crypto-assets on behalf of clients;
b) execution of orders on behalf of clients;
c) exchange of crypto-assets for funds or for other crypto-assets;
d) making an investment decision in accordance with a discretionary mandate given by a client;
e) transfer of crypto-assets to or from accounts.\