Business scope
Crypto-assets other than asset-referenced tokens (ARTs) and e-money tokens (EMTs) are a residual category of crypto-assets covered by Regulation (EU) 2023/1114 (Markets in Crypto-Assets – MiCA Regulation).
MiCAR provides that, for the purposes of offering to the public and seeking admission to trading of these crypto-assets, financial intermediaries draw up a white paper and notify the national competent authority. A white paper is a document containing, inter alia, information relating to the offeror or person seeking admission to trading, the characteristics of the token, the underlying technology and its risks, and investors' rights.
Notification procedure
CONSOB monitors compliance with the provisions on crypto-assets other than those governed by Title II of MiCAR. It receives notifications of crypto-asset white papers in relation to the offer to the public and admission to trading of these crypto-assets, and verifies their content.
For further information on this matter, please contact CONSOB and visit the dedicated section on its website.
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