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:- Template for crypto-assets other than asset-referenced tokens or e-money tokens- Template for asset-referenced tokens – Template for e-money tokensThe key provisions include:- Mandatory use of machine-readable XHTML format with XBRL markup- Detailed data fields covering issuer information, asset characteristics, rights and obligations, underlying technology, and risks- Requirements for clear, non-misleading presentation of information- Standardized statements about risks and regulatory status- Specific disclosures about environmental impactsThe regulation requires white papers to be published in a machine-readable format using Inline XBRL technology, which allows documents to be both human-readable and machine-processable. ESMA will publish standardized XBRL taxonomy files that must be used for marking up the required data fields.The regulation aims to ensure transparency and comparability of crypto-asset offerings while reducing compliance burden through standardization. It includes provisions to avoid duplication of requirements where information is already available through standardized identifiers like LEI codes or Digital Token Identifiers.
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