> 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/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-27.md).

# Article 27

|                 |                                                                                 |
| --------------- | ------------------------------------------------------------------------------- |
| **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                                         |

### Obligation to act honestly, fairly and professionally in the best interest of the holders of asset-referenced tokens

1. [Issuers](https://www.mica.wtf/definitions/definitions/mica/issuer) of [asset-referenced tokens](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token) shall act honestly, fairly and professionally and shall communicate with the holders and prospective holders of asset-referenced tokens in a fair, clear and not misleading manner.
2. [Issuers](https://www.mica.wtf/definitions/definitions/mica/issuer) of [asset-referenced tokens](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token) shall act in the best interests of the holders of such tokens and shall treat them equally, unless any preferential treatment is disclosed in the [crypto-asset](https://www.mica.wtf/definitions/definitions/mica/crypto-asset) white paper and, where applicable, the marketing communications.

### Related

* [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset.md) — definition used in this article
* [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/crypto-asset.md) — definition used in this article
* [issuer](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/issuer.md) — definition used in this article
* [Guidance Note for Issuers of Asset-Referenced Tokens and E-Money Tokens](broken://pages/87zL0n2ZroDtOhA4twUw) — national implementation reference
* [S.I. No. 607/2024 - European Union (Markets in Crypto-Assets) Regulations 2024](broken://pages/2OaCVkIAygpH9oY0BHgV) — national implementation reference
* [Authorisation of issuers of asset-referenced tokens](broken://pages/JytTaZO6i9dkpI3eYOXm) — national implementation reference


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