Artikel 5 Underrättelse om fullständighet vad gäller en vitbok om kryptotillgångar

This article delivers the two possible outcomes of the completeness assessment process established in Article 4.

Once the competent authority has finished reviewing whether the crypto-asset white paper meets the required standard, it must reach one of two conclusions: either the white paper is complete, triggering a formal notification to the credit institution that includes the date of deemed completeness, or it is incomplete, resulting in outright rejection of the application with a corresponding notification to the credit institution.

Important points:

• Competent authorities are required to formally notify the credit institution of the outcome, whether the white paper is approved as complete or rejected as incomplete.
• If deemed complete, the notification must specify the exact date on which the white paper is considered complete, which is significant for subsequent procedural timelines.
• Competent authorities are required to reject the application outright if the white paper remains incomplete after the Article 4 process, leaving no further opportunity for correction at this stage.