> 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/mica/recitals/47.md).

# Recital 47

MiCA Recital 47 — Regulation (EU) 2023/1114.

|                 |                                                                                 |
| --------------- | ------------------------------------------------------------------------------- |
| **Instrument**  | Regulation (EU) 2023/1114 (MiCA)                                                |
| **Source**      | [EUR-Lex](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114) |
| **Status**      | In force                                                                        |
| **Review rule** | Legal-text changes require human review                                         |

### (47)

To ensure protection of retail holders, issuers of asset-referenced tokens should always provide holders of such tokens with information that is complete, fair, clear and not misleading. Crypto-asset white papers for asset-referenced tokens should include information on the stabilisation mechanism, on the investment policy of the reserve assets, on the custody arrangements for the reserve assets and on the rights provided to holders.


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