Article 49
MiCA Article 49 — Issuance and redeemability of e-money tokens.
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MiCA Article 49 — Issuance and redeemability of e-money tokens.
Instrument
Regulation (EU) 2023/1114 (MiCA)
Source
Status
In force
Review rule
Legal-text changes require human review
By way of derogation from Article 11 of Directive 2009/110/EC, in respect of the issuance and redeemability of e-money tokens only the requirements set out in this Article shall apply to issuers of e-money tokens.
Holders of e-money tokens shall have a claim against the issuers of those e-money tokens.
Issuers of e-money tokens shall issue e-money tokens at par value and on the receipt of funds.
Upon request by a holder of an e-money token, the issuer of that e-money token shall redeem it, at any time and at par value, by paying in funds, other than electronic money, the monetary value of the e-money token held to the holder of the e-money token.
Issuers of e-money tokens shall prominently state the conditions for redemption in the crypto-asset white paper as referred to in Article 51(1), first subparagraph, point (d).
Without prejudice to Article 46, the redemption of e-money tokens shall not be subject to a fee.
Level 2 instruments
EMT parallel issuance: EU and non-EU — Q&A (consultation)
PSD2 applicability to EMT issuance/redemption — Q&A (consultation)
electronic money — definition used in this article
electronic money — 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
funds — definition used in this article
funds — definition used in this article
funds — definition used in this article
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