Artikel 27 Pflicht zu ehrlichem, redlichem und professionellem Handeln im besten Interesse der Inhaber vermögenswertereferenzierter Token

Summary What does Article 27 of the MiCA regulation say?

This is a short but foundational conduct article that establishes the baseline behavioural standards expected of issuers of asset-referenced tokens.

It sits within the broader framework governing issuers under Title III and complements the more detailed operational and governance requirements found in surrounding articles by setting the overarching ethical tone: issuers must act honestly, fairly, and professionally, and communicate with holders in a clear and non-misleading way.

It also establishes a default principle of equal treatment for holders, with a carve-out where preferential treatment is transparently disclosed upfront.

Important points:

Act honestly, fairly, and professionally in all communications with holders and prospective holders of asset-referenced tokens.
Act in the best interests of token holders and treat them equally as a default position.
Preferential treatment of certain holders is permissible only if it is disclosed in the crypto-asset white paper and, where applicable, marketing communications.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. Die Emittenten vermögenswertereferenzierter Token handeln ehrlich, redlich und professionell und kommunizieren mit den Inhabern und potenziellen Inhabern vermögenswertereferenzierter Token auf redliche, eindeutige und nicht irreführende Weise.
1. Emittenten vermögenswertereferenzierter Token handeln im besten Interesse der Inhaber solcher Token und behandeln sie gleich, es sei denn, im Kryptowerte-Whitepaper und, falls relevant, in den Marketingmitteilungen ist eine Vorzugsbehandlung vorgesehen.

Table of contents

Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.

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