In this act Article 3 of 11
Article 3 — Timeframe
Financial servicesLevel 2RTSMiCAIn forceOfficial source
1.Without prejudice to paragraph 2, the competent authority shall set a timeframe for the issuer of asset-referenced tokens or e-money tokens to adjust to higher own fund requirements, set on the basis of the assessment by the competent authority referred to in Article 35(3) of Regulation (EU) 2023/1114, that cannot exceed six months from the notification of the final decision referred to in Article 2(4).
2.When the competent authority sets the timeframe for the issuer of asset-referenced tokens or e-money tokens to adjust to higher own fund requirements, it shall take into account any potential higher degree of risk that can have a material impact on the financial stability of the wider financial system or of the issuer and any potential deficiencies in relevant issuer’s governance or business model.