ESMA_QA_1270
02/06/2023
Subject Matter
Settlement in e-money tokens
Original question
Should ‘e-money tokens’ under the DLTR be interpreted under the MiCA definition of ‘e-money tokens’?
Could settlement in e-money tokens be used by DLT MI operators even before MICA starts applying?
Does the issuer of the e-money tokens have to be authorised under EMD? Is it correct that a DLT SS/TSS operator does not need an authorisation as a credit institution or payment services institution if it uses e-money tokens for cash settlement that are issued by a duly authorised institution?
Would e-money tokens used for settlement on a DLT market infrastructure be allowed to be issued on a distributed ledger other than that used by the DLT market infrastructure?
Could settlement in e-money tokens be used by DLT MI operators even before MICA starts applying?
Does the issuer of the e-money tokens have to be authorised under EMD? Is it correct that a DLT SS/TSS operator does not need an authorisation as a credit institution or payment services institution if it uses e-money tokens for cash settlement that are issued by a duly authorised institution?
Would e-money tokens used for settlement on a DLT market infrastructure be allowed to be issued on a distributed ledger other than that used by the DLT market infrastructure?
Status: Question Published
Additional Information
Level 1 Regulation
Regulation (EU) 2022/858 - DLT Pilot Regime Regulation (DLTR)
Topic
DLT settlement system (DLT SS)