Artikel 7 Substanzielle Prüfung eines Kryptowerte-Whitepapers

This article acts as a gateway provision, establishing the precise trigger point at which the competent authority moves from procedural handling into the substantive review of the crypto-asset white paper.

It directly follows the ECB consultation phase set out in earlier articles, making clear that the competent authority's full assessment of the white paper against the requirements of Article 19 of Regulation (EU) 2023/1114 can only begin once the ECB (or relevant central bank) has either issued a positive opinion or allowed its 20 working day window to pass without doing so.

Important points:

• Competent authorities are required to carry out a substantive assessment of the crypto-asset white paper only after the ECB or relevant central bank consultation phase is resolved.
• The trigger for this assessment is either a positive ECB opinion or the expiry of the 20 working day period without any opinion being issued.
• The substantive assessment is conducted against the requirements of Article 19 of Regulation (EU) 2023/1114.