Rule reference
Rules
38 deterministic checks, generated from the rule set of release 1.2.1. Each page states the citation, how the status is set, synthetic examples that are tested on every build, and the limits of the check.
A pass means a check matched. It is not a compliance opinion. Not legal advice.
Annex I · other crypto-assets (18 rules)
| Rule | Checks for | Severity | Citation |
|---|---|---|---|
COMMON.SUMMARY | Plain-language summary | BLOCKER | Art. 6(7), Art. 19(6), Art. 51(6) MiCAR |
COMMON.RISK_WARNING | Mandatory risk warning statement | BLOCKER | Art. 6(5), Art. 19(4), Art. 51(4) MiCAR |
COMMON.MANAGEMENT_STATEMENT | Statement by the management body on completeness, fairness, and clarity | BLOCKER | Art. 6(6), Art. 19(5), Art. 51(5) MiCAR |
COMMON.NOTIFICATION_DATE | Date of notification to the competent authority | MAJOR | Art. 6(8), Art. 19(7), Art. 51(7) MiCAR |
COMMON.LANGUAGE | Language of the white paper (home Member State official language or customary in international finance) | MAJOR | Art. 6(9), Art. 19(8), Art. 51(8) MiCAR |
COMMON.IXBRL_TAGGING | Inline XBRL (iXBRL) compliance and ESMA metadata tagging | BLOCKER | Art. 2 Regulation (EU) 2024/2984 |
COMMON.LEI_CHECK_DIGITS | Legal Entity Identifier format and check digits (ISO 17442, ISO/IEC 7064 MOD 97-10) | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
COMMON.LEI_CONSISTENCY | Legal Entity Identifiers agree across the party sections and the rest of the draft | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
ANNEX_I.A | Information about the offeror or person seeking admission to trading | BLOCKER | Annex I, Part A MiCAR |
ANNEX_I.B | Information about the issuer, if different from the offeror or person seeking admission | MAJOR | Annex I, Part B MiCAR |
ANNEX_I.C | Information about the operator of the trading platform, where applicable | MINOR | Annex I, Part C MiCAR |
ANNEX_I.D | Information about the crypto-asset project | BLOCKER | Annex I, Part D MiCAR |
ANNEX_I.E | Information about the offer to the public or admission to trading | BLOCKER | Annex I, Part E MiCAR |
ANNEX_I.F | Information about the crypto-asset (type, characteristics, functionality) | BLOCKER | Annex I, Part F MiCAR |
ANNEX_I.G | Rights and obligations attached to the crypto-asset | BLOCKER | Annex I, Part G MiCAR |
ANNEX_I.H | Information on the underlying technology | BLOCKER | Annex I, Part H MiCAR |
ANNEX_I.I | Risk factors (market, project, technology, mitigation measures) | BLOCKER | Annex I, Part I MiCAR |
ANNEX_I.J | Principal adverse environmental and climate-related impact of the consensus mechanism | MAJOR | Art. 6(1), first subparagraph, point (j) MiCAR in conjunction with Art. 4 Regulation (EU) 2025/422; Annex, Table 2, Part J Regulation (EU) 2024/2984 |
Annex II · asset-referenced tokens (20 rules)
| Rule | Checks for | Severity | Citation |
|---|---|---|---|
COMMON.SUMMARY | Plain-language summary | BLOCKER | Art. 6(7), Art. 19(6), Art. 51(6) MiCAR |
COMMON.RISK_WARNING | Mandatory risk warning statement | BLOCKER | Art. 6(5), Art. 19(4), Art. 51(4) MiCAR |
COMMON.MANAGEMENT_STATEMENT | Statement by the management body on completeness, fairness, and clarity | BLOCKER | Art. 6(6), Art. 19(5), Art. 51(5) MiCAR |
COMMON.NOTIFICATION_DATE | Date of notification to the competent authority | MAJOR | Art. 6(8), Art. 19(7), Art. 51(7) MiCAR |
COMMON.LANGUAGE | Language of the white paper (home Member State official language or customary in international finance) | MAJOR | Art. 6(9), Art. 19(8), Art. 51(8) MiCAR |
COMMON.IXBRL_TAGGING | Inline XBRL (iXBRL) compliance and ESMA metadata tagging | BLOCKER | Art. 2 Regulation (EU) 2024/2984 |
COMMON.LEI_CHECK_DIGITS | Legal Entity Identifier format and check digits (ISO 17442, ISO/IEC 7064 MOD 97-10) | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
COMMON.LEI_CONSISTENCY | Legal Entity Identifiers agree across the party sections and the rest of the draft | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
ANNEX_II.A | Information about the issuer of the ART (legal form, governance, prudential profile) | BLOCKER | Annex II, Part A MiCAR |
ANNEX_II.B | Information about the asset-referenced token (reference assets, stabilisation mechanism) | BLOCKER | Annex II, Part B MiCAR |
ANNEX_II.C | Information about the offer to the public of the ART or its admission to trading | BLOCKER | Annex II, Part C MiCAR |
ANNEX_II.D | Rights and obligations of holders (redemption right at par, complaints handling) | BLOCKER | Annex II, Part D in conjunction with Art. 39 MiCAR |
ANNEX_II.E | Information on the underlying technology (DLT, custody architecture, key management) | BLOCKER | Annex II, Part E MiCAR |
ANNEX_II.F | Risk factors specific to ARTs (de-pegging, reserve impairment, redemption suspension) | BLOCKER | Annex II, Part F MiCAR |
ANNEX_II.G.COMPOSITION_DISCLOSURE | Reserve composition disclosure (Annex II Part G) | BLOCKER | Annex II, Part G in conjunction with Art. 36 MiCAR |
ANNEX_II.G.DEPOSIT_FLOOR_REVIEW | Candidate deposit floor for the reserve (30 % under Art. 36(4)(d); 60 % under Art. 45(7)(b) for significant ARTs, or for non-significant ARTs via Arts. 35(4) and 45(3) MiCAR) - lawyer review required | BLOCKER | Annex II, Part G in conjunction with Art. 35(4), Art. 36(4), point (d), Art. 45(3) and Art. 45(7), point (b) MiCAR |
ANNEX_II.G.CUSTODY | Custody policy and custodian selection (Art. 36(2) MiCAR) | BLOCKER | Annex II, Part G in conjunction with Art. 36(2), Art. 37 MiCAR |
ANNEX_II.G.VALUATION_AUDIT | Valuation procedure and audit frequency (Art. 36(3) MiCAR) | BLOCKER | Annex II, Part G in conjunction with Art. 36(3) MiCAR |
ANNEX_II.H | Principal adverse environmental and climate-related impact of the consensus mechanism | MAJOR | Art. 19(1), first subparagraph, point (h) MiCAR in conjunction with Art. 4 Regulation (EU) 2025/422; Annex, Table 3, Part H Regulation (EU) 2024/2984 |
ANNEX_II.I | Redemption rights and procedure (timing, fees, suspension conditions) | BLOCKER | Annex II, Part D, points 9, 15 and 16, Part G, point 3 in conjunction with Art. 39 MiCAR |
Annex III · e-money tokens (16 rules)
| Rule | Checks for | Severity | Citation |
|---|---|---|---|
COMMON.SUMMARY | Plain-language summary | BLOCKER | Art. 6(7), Art. 19(6), Art. 51(6) MiCAR |
COMMON.RISK_WARNING | Mandatory risk warning statement | BLOCKER | Art. 6(5), Art. 19(4), Art. 51(4) MiCAR |
COMMON.MANAGEMENT_STATEMENT | Statement by the management body on completeness, fairness, and clarity | BLOCKER | Art. 6(6), Art. 19(5), Art. 51(5) MiCAR |
COMMON.NOTIFICATION_DATE | Date of notification to the competent authority | MAJOR | Art. 6(8), Art. 19(7), Art. 51(7) MiCAR |
COMMON.LANGUAGE | Language of the white paper (home Member State official language or customary in international finance) | MAJOR | Art. 6(9), Art. 19(8), Art. 51(8) MiCAR |
COMMON.IXBRL_TAGGING | Inline XBRL (iXBRL) compliance and ESMA metadata tagging | BLOCKER | Art. 2 Regulation (EU) 2024/2984 |
COMMON.LEI_CHECK_DIGITS | Legal Entity Identifier format and check digits (ISO 17442, ISO/IEC 7064 MOD 97-10) | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
COMMON.LEI_CONSISTENCY | Legal Entity Identifiers agree across the party sections and the rest of the draft | MAJOR | Annex I, Part A, Annex II, Part A, Annex III, Part A MiCAR |
ANNEX_III.A | Information about the issuer of the EMT (credit institution or e-money institution) | BLOCKER | Annex III, Part A MiCAR |
ANNEX_III.B | Information about the e-money token (referenced currency, denomination) | BLOCKER | Annex III, Part B MiCAR |
ANNEX_III.C | Information about the offer to the public of the EMT or its admission to trading | BLOCKER | Annex III, Part C MiCAR |
ANNEX_III.D | Rights and obligations of holders (redemption at par value, no interest) | BLOCKER | Annex III, Part D in conjunction with Art. 49(4), Art. 50(1) MiCAR |
ANNEX_III.E | Information on the underlying technology (DLT, custody, key management) | BLOCKER | Annex III, Part E MiCAR |
ANNEX_III.F | Risk factors specific to EMTs (safeguarding, redemption, operational) | BLOCKER | Annex III, Part F MiCAR |
ANNEX_III.G | Principal adverse environmental and climate-related impact of the consensus mechanism | MAJOR | Art. 51(1), point (g) MiCAR in conjunction with Art. 4 Regulation (EU) 2025/422; Annex, Table 4, Part G Regulation (EU) 2024/2984 |
ANNEX_III.SAFEGUARDING | Safeguarding of funds received against EMT issuance | BLOCKER | Art. 54 MiCAR in conjunction with Art. 7 EMD2 (Directive 2009/110/EC) |