AI Summary of Article 5a Definitions specific to crypto-assets
This Regulation defines key terms relevant to the regulation of crypto-assets and traditional assets. A 'crypto-asset' excludes central bank digital currencies and includes various types of tokens, such as 'electronic money tokens' and 'asset-referenced tokens'. The definition of 'traditional asset' encompasses a wide range of financial instruments, funds, deposits, pension products, and insurance contracts, among others.
The Regulation also differentiates 'crypto-asset exposure' and includes 'tokenised traditional assets' that serve as representations of conventional assets, ensuring clarity in the management of associated risks and compliance requirements in the evolving financial landscape.
Article 5a Definitions specific to crypto-assets
For the purposes of this Regulation, the following definitions apply:
(1) "crypto-asset" means a crypto-asset as defined in Article 3(1), point (5), of Regulation (EU) 2023/1114 of the European Parliament and of the Council [Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150, 9.6.2023, p. 40).] that is not a central bank digital currency;
(2) "electronic money token" or "e-money token" means an electronic money token or e-money token as defined in Article 3(1), point (7), of Regulation (EU) 2023/1114;
(3) "crypto-asset exposure" means an asset or an off-balance-sheet item related to a crypto-asset that gives rise to credit risk, counterparty credit risk, market risk, operational risk or liquidity risk;