> 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/pending-questions/eba-qa-7068-emt-parallel-issuance-eu-non-eu.md).

# EMT parallel issuance: EU and non-EU

|                 |                                                                                                                                                                                                                                                                                                              |
| --------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **Authority**   | EBA                                                                                                                                                                                                                                                                                                          |
| **Q\&A ID**     | EBA\_QA\_2024\_7068                                                                                                                                                                                                                                                                                          |
| **Status**      | Under Review                                                                                                                                                                                                                                                                                                 |
| **Submitted**   | 29 April 2024                                                                                                                                                                                                                                                                                                |
| **Legal basis** | [Articles 48](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-48.md), [49](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-49.md), [54](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-54.md), [56](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-56.md) MiCA |
| **Source**      | [EBA Q\&A](https://www.eba.europa.eu/single-rule-book-qa?id=2024_7068)                                                                                                                                                                                                                                       |

### Question

Five interrelated questions about whether technically identical and fully fungible EMTs can be issued in parallel by both an EU-authorised entity and a non-EU entity: (1) Is this legally possible under MiCAR? (2) Compliance with [Article 48(1)](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-48.md) MiCAR when non-EU-issued tokens enter EU markets. (3) Application of Recital 54 to such arrangements. (4) Safeguarding requirements calculation methodology. (5) Whether limiting redemptions to EU residents complies with MiCAR.

***

### Answer

*Content to be populated — see source link.*

***

**Source:** [EBA Single Rulebook Q\&A](https://www.eba.europa.eu/single-rule-book-qa?id=2024_7068)


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