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---
title: "Recital 103"
type: regulation
legal_status: in_force
source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114
shortTitle: "Recital 103"
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: "Regulation (EU) 2023/1114, OJ L 150, 9.6.2023"
source_url: "https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng"
check_status: matched
verified: true
last_checked: 2026-11-09
---

*In force · Regulation (EU) 2023/1114, OJ L 150, 9.6.2023 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng)*

Competent authorities in charge of supervision under Directive 2009/110/EC should supervise issuers of e-money tokens. However, given the potential widespread use of significant e-money tokens as a means of payment and the risks they can pose to financial stability, a dual supervision both by competent authorities and by EBA of issuers of significant e-money tokens is necessary. EBA should supervise the compliance by issuers of significant e-money tokens with the specific additional requirements set out in this Regulation for such tokens. Since the specific additional requirements should apply only to electronic money institutions issuing significant e-money tokens, credit institutions issuing significant e-money tokens, to which such requirements do not apply, should remain supervised by their respective competent authorities. The dual supervision should address the very specific nature of the risks posed by e-money tokens, and should not set a precedent for any other Union legislative acts on financial services.