26 Amendments of Engin EROGLU related to 2020/0265(COD)
Amendment 22 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) A crypto-asset can be seen as an asset that depends primarily on cryptography and DLT or similar technology as part of its perceived or inherent value, that is neither issued nor guaranteed by a central bank or public authority, and that can be used as a means of exchange and/or for investment purposes.
Amendment 71 #
Proposal for a regulation
Recital 14
Recital 14
(14) In order to ensure consumer protection, prospective purchasers of crypto-assets should be informed about the characteristics, functions and risks of crypto-assets they intend to purchase. When making a public offer of crypto- assets in the Union or when seeking admission of crypto-assets to trading on a trading platform for crypto-assets, issuers of crypto-assets should produce, notify to their competent authority and publish an information document (‘a crypto-asset white paper’) containing mandatory disclosures. Such crypto-asset white paper should contain general information on the issuer and offeror, when different, on the project to be carried out with the capital raised, on the public offer of crypto-assets or on their admission to trading on a trading platform for crypto- assets, on the rights and obligations attached to the crypto-assets, on the underlying technology used for such assets and on the related risks. To ensure fair and non- discriminatory treatment of holders of crypto-assets, the information in the crypto-asset white paper, and where applicable in any marketing communications related to the public offer, shall be fair, clear and not misleading.
Amendment 151 #
Proposal for a regulation
Article 1 – point a
Article 1 – point a
(a) transparency and disclosure requirements for the issuance, offering and admission to trading on a trading platform of crypto-assets;
Amendment 152 #
Proposal for a regulation
Article 1 – point b
Article 1 – point b
(b) the authorisation and supervision of crypto-asset service providers and issuers ofand offerors of both asset-referenced tokens and issuers of electronic money tokens;
Amendment 155 #
Proposal for a regulation
Article 1 –point c
Article 1 –point c
(c) the operation, organisation and governance of issuers and offerors of asset-referenced tokens, issuers and offerors of electronic money tokens and crypto-asset service providers;
Amendment 158 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. This Regulation applies to persons that are engaged in the issuance or offering of crypto- assets for the purpose of trading or provideing services related to crypto- assets trading in the Union.
Amendment 164 #
Proposal for a regulation
Article 2 – paragraph 2 – point b a (new)
Article 2 – paragraph 2 – point b a (new)
Amendment 195 #
Proposal for a regulation
Article 3 – paragraph 1 – point 2
Article 3 – paragraph 1 – point 2
(2) ‘crypto-asset’ means a digital representation of value or rights for direct investment or finance purposes that use cryptography for security and are coins or tokens of distributed ledgers, and which may be transferred and stored electronically, using distributed ledger technology or similar technology;
Amendment 210 #
Proposal for a regulation
Article 3 – paragraph 1 – point 5
Article 3 – paragraph 1 – point 5
(5) ‘utility token’ means a type of crypto-asset that is used for purposes other than as a means of payment or exchange for external goods or services and which is intended to provide digital access to a good or service, available on DLT, and is only accepted by the issuer of that token;
Amendment 221 #
Proposal for a regulation
Article 3 – paragraph 1 – point 6 a (new)
Article 3 – paragraph 1 – point 6 a (new)
(6a) an 'offeror of crypto-assets' means a legal entity which offers any type of crypto-assets or asks for admission to trading of crypto-assets on a trading platform for crypto-assets;
Amendment 268 #
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. No issuer or offeror of crypto- assets, other than asset-referenced tokens or e-money tokens, shall, in the Union, offer such crypto-assets to the public, or seek an admission of such crypto-assets to trading on a trading platform for crypto- assets, unless that issuer or offeror:
Amendment 269 #
Proposal for a regulation
Article 4 – paragraph 1 – point a
Article 4 – paragraph 1 – point a
(a) is a legal entity, a natural person having its residence in the Union, or other entity established or having seat in the Union and subject to the rights and obligations of the Union;
Amendment 284 #
Proposal for a regulation
Article 4 – paragraph 2 – point d
Article 4 – paragraph 2 – point d
(d) the crypto-assets are offered to fewer than 1500 natural or legal persons per Member State where such persons are acting on their own account;
Amendment 287 #
Proposal for a regulation
Article 4 – paragraph 2 – point e
Article 4 – paragraph 2 – point e
(e) over a period of 12 months, the total consideration of an offer to the public of crypto-assets in the Union does not exceed EUR 18 000 000, or the equivalent amount in another currency or in crypto- assets;
Amendment 706 #
Proposal for a regulation
Article 46 – paragraph 2 – point a
Article 46 – paragraph 2 – point a
(a) a description of the issuer(s) of e- money tokens, when known;
Amendment 708 #
Proposal for a regulation
Article 46 – paragraph 2 – point a a (new)
Article 46 – paragraph 2 – point a a (new)
(aa) a description of the offeror of e- money tokens;
Amendment 709 #
Proposal for a regulation
Article 46 – paragraph 2 – point b
Article 46 – paragraph 2 – point b
(b) a detailed description of the issuer’s project, and a presentation of the main participants involved in the project's design and development, when known;
Amendment 712 #
Proposal for a regulation
Article 46 – paragraph 2 – point f
Article 46 – paragraph 2 – point f
(f) the risks relating to the issuer of(s) of the e- money issuertokens, the offeror of the e- money tokens, the e-money tokens and the implementation of the project, including the technology;
Amendment 734 #
Proposal for a regulation
Article 50 – paragraph 2
Article 50 – paragraph 2
2. Competent authorities of the issuer’ or offeror's home Member State shall provide the EBA with information on the criteria referred to in Article 39(1) of this Article and specified in accordance with Article 39(6) on at least a yearly basis.
Amendment 737 #
Proposal for a regulation
Article 50 – paragraph 3
Article 50 – paragraph 3
3. Where the EBA is of the opinion that e-money tokens meet the criteria referred to in Article 39(1), as specified in accordance with Article 39(6), the EBA shall prepare a draft decision to that effect and notify that draft decision to the issuers or offerors of those e-money tokens and the competent authority of the issuer’ or offeror's home Member State. The EBA shall give issuers or offerors of such e- money tokens and their competent authorities the opportunity to provide observations and comments in writing prior the adoption of its final decision. The EBA shall duly consider those observations and comments.
Amendment 741 #
Proposal for a regulation
Article 50 – paragraph 4
Article 50 – paragraph 4
4. The EBA shall take its final decision on whether an e-money token is a significant e-money token within three months after the notification referred to in paragraph 3 and immediately notify the issuers or offerors of such e-money tokens and their competent authorities thereof.
Amendment 971 #
Proposal for a regulation
Article 77 – paragraph 1
Article 77 – paragraph 1
1. Issuers and offerors of crypto- assets shall inform the public as soon as possible of inside information which concerns them, in a manner that enables the public to access that information in an easy manner and to assess that information in a complete, correct and timely manner.
Amendment 978 #
Proposal for a regulation
Article 77 – paragraph 2 – introductory part
Article 77 – paragraph 2 – introductory part
2. Issuers and offerors of crypto- assets may, on their own responsibility, delay disclosure to the public of inside information provided that all of the following conditions are met:
Amendment 981 #
Proposal for a regulation
Article 77 – paragraph 2 – point a
Article 77 – paragraph 2 – point a
(a) immediate disclosure is likely to prejudice the legitimate interests of the issuers or offerors;
Amendment 989 #
Proposal for a regulation
Article 77 – paragraph 2 – point c
Article 77 – paragraph 2 – point c
(c) the issuers or offerors are able to ensure the confidentiality of that information.
Amendment 1144 #
Proposal for a regulation
Article 123 – paragraph 2 a (new)
Article 123 – paragraph 2 a (new)
2a. By way of derogation from this Regulation, crypto-assets that are issued or made available and/or traded in the EU or admitted to trading on a trading platform for crypto-assets on or after [please insert the date of entry into application of this Regulation] in accordance with the laws applicable to such crypto assets prior to the date of application of this Regulation, may continue to do so until [please insert date 18 months after the date of application of this Regulation].