ESMA_QA_1270
02/06/2023
Subject Matter
Settlement in e-money tokens
    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?
    Status: Question Published

    Additional Information

    Level 1 Regulation
    Regulation (EU) 2022/858 - DLT Pilot Regime Regulation (DLTR)
    Topic
    DLT settlement system (DLT SS)