MiCA Regulation [Eurolex]

Art. 16 - Authorisation Art. 17 - Requirements for banks Art. 18 - Application for authorisation Art. 19 - Whitepaper Art. 20 - Assessment of application Art. 21 - Refusal of authorisation Art. 22 - Reporting on stablecoins Art. 23 - Restrictions on mass stablecoins Art. 24 - Withdrawal of the authorisation Art. 25 - Modification of whitepaper Art. 26 - Liability for whitepaper Art. 27 - Best interest Art. 28 - Whitepaper Art. 29 - Marketing Art. 30 - Ongoing information Art. 31 - Complaints-handling Art. 32 - Conflicts of interest Art. 33 - Changes of management Art. 34 - Governance arrangements Art. 35 - Own funds requirements Art. 36 - Reserve assets Art. 37 - Custody of reserve assets Art. 38 - Investment of the reserves Art. 39 - Right of redemption Art. 40 - Prohibition of granting interest Art. 41 - Acquisition of issuers: Assessment Art. 42 - Acquisitions of issuers: Content Art. 43 - Significant stablecoins Art. 44 - Voluntary significant stablecoins Art. 45 - Obligations for significant stablecoins Art. 46 - Recovery plan Art. 47 - Redemption plan
Art. 59 - Authorisation Art. 60 - Services by licensed entities Art. 61 - Reverse solicitation Art. 62 - Application for authorisation Art. 63 - Assessment of application Art. 64 - Withdrawal of authorisation Art. 65 - Cross-border services Art. 66 - Honest, fair, professional Art. 67 - Prudential requirements Art. 68 - Governance arrangements Art. 69 - Information to authorities Art. 70 - Custody Art. 71 - Complaints-handling procedures Art. 72 - Conflicts of interest Art. 73 - Outsourcing Art. 74 - Orderly wind-down Art. 75 - Custody and administration Art. 76 - Trading platforms Art. 77 - Exchange Art. 78 - Best execution Art. 79 - Placing of crypto-assets Art. 80 - Reception and transmission of orders Art. 81 - Advice and Portfolio Management Art. 82 - Transfers Art. 83 - Acquisitions: Assessment Art. 84 - Acquisitions: Content Art. 85 - Significant service providers
Art. 93 - Competent authorities Art. 94 - Powers of competent authorities Art. 95 - Cooperation Art. 96 - Cooperation EBA and ESMA Art. 97 - Classification of tokens Art. 98 - Other authorities Art. 99 - Duty of notification Art. 100 - Professional secrecy Art. 101 - Data protection Art. 102 - Precautionary measures Art. 103 - ESMA interventions Art. 104 - EBA interventions Art. 105 - Product intervention Art. 106 - Coordination with ESMA or EBA Art. 107 - Third-countries Art. 108 - Complaints-handling Art. 109 - ESMA register Art. 110 - Register of non-compliant firms Art. 111 - Administrative penalties Art. 112 - Supervisory powers Art. 113 - Right of appeal Art. 114 - Publication of decisions Art. 115 - Reporting of penalties Art. 116 - Reporting of infringements Art. 117 - Supervision: stablecoins Art. 118 - EBA crypto-asset committee Art. 119 - Colleges for issuers Art. 120 - Non-binding opinion of colleges Art. 121 - Legal privilege Art. 122 - Request for information Art. 123 - General investigative powers Art. 124 - On-site inspections Art. 125 - Exchange of information Art. 126 - Third countries: information Art. 127 - Third countries: disclosure Art. 128 - Other authorities Art. 129 - Professional secrecy Art. 130 - Supervisory measures EBA Art. 131 - Fines Art. 132 - Periodic penalty payments Art. 133 - Allocation of fines Art. 134 - Fines: procedural rules Art. 135 - Investigation: hearings Art. 136 - Review by the Court of Justice Art. 137 - Supervisory fees Art. 138 - EBA: delegation of tasks Art. 139 - Exercise of the delegation Art. 140 - Reports on MiCA Art. 141 - Report on market Art. 142 - Report on crypto-assets
Art. 143 - Transitional measures

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Article 64 - Withdrawal of authorisation

(Official title: Withdrawal of authorisation of a crypto-asset service provider)

  1. Competent authorities shall withdraw the authorisation of a crypto-asset service provider if the crypto-asset service provider does any of the following:

    (a) has not used its authorisation within 12 months of the date of the authorisation;

    (b) has expressly renounced its authorisation;

    (c) has not provided crypto-asset services for nine consecutive months;

    (d) has obtained its authorisation by irregular means, such as by making false statements in its application for authorisation;

    (e) no longer meets the conditions under which the authorisation was granted and has not taken the remedial action requested by the competent authority within the specified timeframe;

    (f) fails to have in place effective systems, procedures and arrangements to detect and prevent money laundering and terrorist financing in accordance with Directive (EU) 2015/849;

    (g) has seriously infringed this Regulation, including the provisions relating to the protection of holders of crypto-assets or of clients of crypto-asset service providers, or market integrity.

  2. Competent authorities may withdraw authorisation as a crypto-asset service provider in any of the following situations:

    (a) the crypto-asset service provider has infringed the provisions of national law transposing Directive (EU) 2015/849;

    (b) the crypto-asset service provider has lost its authorisation as a payment institution or its authorisation as an electronic money institution, and that crypto-asset service provider has failed to remedy the situation within 40 calendar days.

  3. Where a competent authority withdraws an authorisation as a crypto-asset service provider, it shall notify ESMA and the single points of contact of the host Member States without undue delay. ESMA shall make such information available in the register referred to in Article 109.

  4. Competent authorities may limit the withdrawal of authorisation to a particular crypto-asset service.

  5. Before withdrawing an authorisation as a crypto-asset service provider, competent authorities shall consult the competent authority of another Member State where the crypto-asset service provider concerned is:

    (a) a subsidiary of a crypto-asset service provider authorised in that other Member State;

    (b) a subsidiary of the parent undertaking of a crypto-asset service provider authorised in that other Member State;

    (c) controlled by the same natural or legal persons who control a crypto-asset service provider authorised in that other Member State.

  6. Before withdrawing an authorisation as a crypto-asset service provider, competent authorities may consult the authority competent for supervising compliance of the crypto-asset service provider with the rules on anti-money laundering and counter-terrorist financing.

  7. EBA, ESMA and any competent authority of a host Member State may at any time request that the competent authority of the home Member State examine whether the crypto-asset service provider still complies with the conditions under which the authorisation was granted, when there are grounds to suspect it may no longer be the case.

  8. Crypto-asset service providers shall establish, implement and maintain adequate procedures ensuring the timely and orderly transfer of their clients’ crypto-assets and funds to another crypto-asset service provider when an authorisation is withdrawn.

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