Updated 13/10/2025
In force since 05/10/2025

Initial Legal Act
References (2)
eba.europa.eu/activities/single-rulebook/regulatory-activities/asset-referenced-and-e-money-tokens-micar-1
15/09/2025
Delegated Regulation 2025/1125 published in OJ
25/02/2025
Letter to EC re EBA Opinion on EC changes to RTS authorisation ART issuers
Other published
25/02/2025
EBA/Op/2025/03
Other published
08/01/2025
C(2025) 17 final
Other published
08/01/2025
C(2025) 17 final
Other published
07/05/2024
EBA/RTS/2024/03 and EBA/ITS/2024/03
Final Draft published
12/07/2023
EBA/CP/2023/15
Consultation published
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MiCAR ToolDelegated Regulation 2025/1125

Delegated Regulation 2025/1125

Commission Delegated Regulation (EU) 2025/1125 of 5 June 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying the information in an application for authorisation to offer asset-referenced tokens to the public or to seek their admission to trading

RecitalsArticle 1 - Information about the identity of the applicant issuerArticle 2 - Programme of operations: information on the business model, strategy and risk profileArticle 3 - Programme of operations: financial information on the business planArticle 4 - Information about the internal governance arrangements and the structural organisationArticle 5 - Information on the internal control frameworkArticle 6 - Liquidity management, reserve of assets and redemption rightsArticle 7 - Identity and proof of good repute, knowledge, skills, experience and of sufficient time commitment of the members of the management bodyArticle 8 - Information relating to shareholders or members with qualifying holdingsArticle 9 - Entry into force