Article 40

MiCA Article 40 — Prohibition of granting interest.

Instrument	Regulation (EU) 2023/1114 (MiCA)
Source	EUR-Lex
Status	In force
Review rule	Legal-text changes require human review

Prohibition of granting interest

1. Issuers of asset-referenced tokens shall not grant interest in relation to asset-referenced tokens.
2. Crypto-asset service providers shall not grant interest when providing crypto-asset services related to asset-referenced tokens.
3. For the purposes of paragraphs 1 and 2, any remuneration or any other benefit related to the length of time during which a holder of asset-referenced tokens holds such asset-referenced tokens shall be treated as interest. That includes net compensation or discounts, with an effect equivalent to that of interest received by the holder of asset-referenced tokens, directly from the issuer or from third parties, and directly associated to the asset-referenced tokens or from the remuneration or pricing of other products.

Related

• crypto-asset service — definition used in this article
• crypto-asset — definition used in this article
• crypto-asset — definition used in this article
• issuer — definition used in this article
• Guidance Note for Issuers of Asset-Referenced Tokens and E-Money Tokens — national implementation reference
• Authorisation of issuers of asset-referenced tokens — national implementation reference