> 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-iv-e-money-tokens-art.-48-48/chapter-2/article-58.md).

# Article 58

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

## Specific additional obligations for issuers of e-money tokens

1. [Electronic money institutions](https://www.mica.wtf/definitions/definitions/mica/electronic-money-institution) issuing significant [e-money tokens](https://www.mica.wtf/definitions/definitions/mica/electronic-money-token) shall be subject to:

   1. the requirements referred to in Articles [36](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-36.md), [37](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-37.md), [38](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-38.md) and Article [45](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-5/article-45.md), (1) to (4) of this Regulation, instead of Article 7 of Directive 2009/110/EC;
   2. the requirements referred to in Article [35](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-35.md)(2), (3) and (5) and Article [45](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-5/article-45.md)(5) of this Regulation, instead of Article 5 of Directive 2009/110/EC.

   By way of derogation from Article [36](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-36.md)(9), the independent audit shall, in respect of [issuers](https://www.mica.wtf/definitions/definitions/mica/issuer) of significant [e-money tokens](https://www.mica.wtf/definitions/definitions/mica/electronic-money-token), be mandated every six months as of the date of the decision to classify the e-money tokens as significant pursuant to Article [56](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-56.md) or [57](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-57.md), as applicable.
2. [Competent authorities](https://www.mica.wtf/definitions/definitions/mica/competent-authority) of the [home Member States](https://www.mica.wtf/definitions/definitions/mica/home-member-state) may require [electronic money](https://www.mica.wtf/definitions/definitions/mica/electronic-money) institutions issuing e-money tokens that are not significant to comply with any requirement referred to in paragraph 1 where necessary to address the risks that those provisions aim to address, such as liquidity risks, operational risks, or risks arising from non-compliance with requirements for management of [reserve of assets](https://www.mica.wtf/definitions/definitions/mica/reserve-of-assets).
3. Articles [22](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-22.md), [23](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-23.md) and [24](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-24.md)(3) shall apply to e-money tokens denominated in a currency that is not an [official currency](https://www.mica.wtf/definitions/definitions/mica/official-currency) of a Member State.

***

#### Level 2 instruments

* [EMT issuance: bank segregated account](/eu-level/q-and-a/pending-questions/eba-qa-7591-emt-issuance-bank-segregated-account.md) — Q\&A (withdrawn)


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