On 9 October 2024, the European Banking Authority (EBA) published final guidelines on the content of the redemption plan to be developed by issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs). The Guidelines are addressed to Member State competent authorities (NCAs) and issuers of ARTs and EMTs. The guidelines are developed per Articles 47(5) and 55 of the Markets in Crypto-Assets Regulation (MiCAR).

The Guidelines set out the:

  • Content of the redemption plan.
  • Periodicity for review and update of such a plan.
  • Triggers for implementation of the redemption plan that issuers of ARTs and EMTS have to draw up and maintain operational.

The Guidelines apply from two months after their publication in all EU official languages on the EBA’s website.

The deadline for NCAs to report whether they comply with the Guidelines will be two months after the publication of the translations.