> 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://headlesslaw.com/definitions/mica/electronic-money-institution/) issuing significant [e-money tokens](https://headlesslaw.com/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://headlesslaw.com/definitions/mica/issuer/) of significant [e-money tokens](https://headlesslaw.com/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://headlesslaw.com/definitions/mica/competent-authority/) of the [home Member States](https://headlesslaw.com/definitions/mica/home-member-state/) may require [electronic money](https://headlesslaw.com/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://headlesslaw.com/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://headlesslaw.com/definitions/mica/official-currency/) of a Member State.

***

**Level 2 instruments**

* [EMT issuance: bank segregated account](/mica-level-2-and-level-3/q-and-a/pending/eba-qa-7591-emt-issuance-bank-segregated-account.md) — Q\&A (withdrawn)

### Related

* [official currency](https://headlesslaw.com/definitions/mica/official-currency/) — definition used in this article
* [reserve of assets](https://headlesslaw.com/definitions/mica/reserve-of-assets/) — definition used in this article
* [electronic money](https://headlesslaw.com/definitions/emd2/electronic-money/) — definition used in this article
* [electronic money](https://headlesslaw.com/definitions/mica/electronic-money/) — definition used in this article
* [issuer](https://headlesslaw.com/definitions/mica/issuer/) — definition used in this article
* [Markets in Crypto-Assets Regulation (MiCAR) - Central Bank of Ireland](https://github.com/jakesenfti/micawtf/tree/main/national-adaptations/IE/cbi/mica-regulation-overview.md) — national implementation reference
* [S.I. No. 607/2024 - European Union (Markets in Crypto-Assets) Regulations 2024](https://github.com/jakesenfti/micawtf/tree/main/national-adaptations/IE/cbi/si-607-2024-markets-in-crypto-assets-regulations.md) — national implementation reference
* [Circular CSSF 25/874 — Application of the Guidelines of the European Banking Authority establishing the common reference parameters of the stress test scenarios for the liquidity stress tests referred in Article 45(4) of Regulation (EU) 2023/1114 (EBA/GL/2024/08)](https://github.com/jakesenfti/micawtf/tree/main/national-adaptations/LU/cssf/circular-cssf-25-874.md) — national implementation reference


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