Art. 17 Identification of the crypto-asset service provider undertaking orders and transactions | RTS on record keeping | MiCA

This article focuses on how crypto-asset service providers must identify themselves within the records they are required to maintain under this regulation.

It sets out a clear requirement around the use of a standardised legal entity identifier, tying into the broader record-keeping framework established across the regulation by specifying the format and validity of the identifier used to represent the provider itself in those records.

Important points:

Ensure your firm is identified in all required records using a legal entity identifier that complies with the ISO 17442 standard and is included in the Global LEI database.
The legal entity identifier must be correct, meaning an outdated or lapsed identifier does not satisfy this obligation.
Renew the reference data linked to your legal entity identifier in accordance with the terms of an accredited Local Operating Unit of the Global Legal Entity Identifier System.

In order to ensure certain and efficient identification of crypto-asset service providers responsible for executing orders or transactions, those providers should ensure that they are identified in the records maintained pursuant to their record-keeping obligations using validated, issued, and duly renewed legal entity identifiers (LEIs). Pursuant to Article 62 in Regulation (EU) 2023/1114, crypto-asset service providers are required to obtain a legal entity identifier in order to be authorised. Furthermore, to enable the competent authorities to fulfil their supervisory tasks and take enforcement measures in accordance with Article 68(10) of Regulation (EU) 2023/1114, such identifier should be verified, up-to-date and included in the records to be maintained in accordance with this Regulation.

Article 17 Identification of the crypto-asset service provider undertaking orders and transactions

Relevant recitals