This Commission Implementing Regulation establishes technical standards for crypto-asset white papers under EU Regulation 2023/1114. It sets uniform requirements for the format and content of disclosure documents that must be prepared when offering crypto-assets to the public or seeking their admission to trading.The regulation introduces three standardized templates for different types of crypto-assets: general crypto-assets, asset-referenced tokens, and e-money tokens. Each template contains detailed fields that must be completed with specific information about the issuer, the crypto-asset, rights attached to it, underlying technology, risks, and other relevant details.Key provisions include:
- Mandatory use of machine-readable XHTML format with Inline XBRL markup for all white papers
- Standardized data fields and taxonomies to ensure consistency and comparability
- Requirements for unique identifiers like Legal Entity Identifiers (LEI) and Digital Token Identifiers (DTI)
- Detailed disclosure requirements regarding the characteristics of crypto-assets, rights of holders, risks, and underlying technology
- Special requirements for asset-referenced tokens and e-money tokens regarding reserve assets and redemption rights
The regulation aims to ensure transparency and standardization in crypto-asset disclosures while facilitating automated processing of information. It will apply from December 23, 2025, giving market participants time to adapt to the new requirements.
