> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/eu-level/q-and-a/eba-qa-7166-whitepaper-publication-exempted-issuers.md).

# White paper obligation for Article 16(2) exempt ART issuers

|                 |                                                                                                                                                                                     |
| --------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Authority**   | EBA                                                                                                                                                                                 |
| **Q\&A ID**     | EBA\_QA\_2024\_7166                                                                                                                                                                 |
| **Status**      | Answer Published                                                                                                                                                                    |
| **Published**   | 8 May 2026                                                                                                                                                                          |
| **Legal basis** | [Articles 16(2)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-16.md), [28](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-28.md) MiCA |
| **Source**      | [EBA Q\&A](https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2024_7166)                                                                                               |

### Question

Regarding entities exempted from authorisation pursuant to [Article 16(2)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-16.md) of MiCAR, they shall notify the white paper to the [competent authority](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/competent-authority.md) of the [home Member State](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/home-member-state.md), and the NCA is responsible for forwarding on the white paper of these entities to ESMA. However, it is unclear how the white paper is made available to the intended audiences of customers, and other relevant stakeholders and investors. [Article 28](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-28.md) on publication of [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset.md) white papers only refers to 'approved' white papers (in accordance with [Article 17(1)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-17.md) or [Article 21(1)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-21.md) of MiCAR), without referring to notified white papers of exempted entities under [Article 16(2)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-16.md) of MiCAR. Therefore, does Article 28 on publication of white paper of ART issuers also apply to issuers exempted under [Article 16(2)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-16.md) of MiCAR?

*Submitted by: Central Bank of Ireland · 8 August 2024*

***

### Answer

*Answer prepared by the European Commission*

Yes, [Article 28](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-28.md) MiCAR on publication of white paper of ART issuers applies to issuers exempted under [Article 16(2)](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-16.md) of MiCAR.

***

**Source:** [EBA Single Rulebook Q\&A](https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2024_7166)

### Related

* [competent authority](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/competent-authority.md) — defined term used on this page
* [home Member State](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/home-member-state.md) — defined term used on this page
* [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset.md) — defined term used on this page
* [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/crypto-asset.md) — defined term used on this page


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