Article 1–Article 2 · 2 articles
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Definitions
For the purposes of this Regulation, the following definitions shall apply:
(1)
‘transaction’ means the conclusion of an acquisition or disposal of crypto-assets other than the crypto-assets referred to in Article 2(3) and (4) of Regulation (EU) 2023/1114;
(2)
‘undertaking a transaction’ means executing a transaction or transmitting an order for crypto-assets on behalf of a client;
(3)
‘executing a transaction’ means providing any of the following services or performing any of the following activities that result in a transaction:
(a)
reception and transmission of orders for crypto-assets on behalf of clients;
(b)
execution of orders on behalf of clients;
(c)
exchange of crypto-assets for funds or for other crypto-assets;
(d)
making an investment decision in accordance with a discretionary mandate given by a client;
(e)
transfer of crypto-assets to or from accounts.
Retention of records
1. The records shall be retained in a medium that allows the storage of information in a way accessible for future reference by the competent authority, in such a form and manner that all of the following conditions are met:
(a)
competent authorities are able to access those records readily and to reconstitute each key stage of the processing of each crypto-asset service, activity, order or transaction;
(b)
it is possible to easily ascertain any corrections or other amendments to the records, and the contents of the records prior to such corrections or amendments;
(c)
it is not possible to manipulate or alter the records;
(d)
it allows for the exploitation of the data by means of an ICT or any other efficient system, where it is not possible to easily analyse the data due to its volume and nature;
(e)
the crypto-asset service provider's record-keeping arrangements comply with the record keeping requirements under this Regulation irrespective of the technology used.
2. Crypto-assets service providers shall keep the records listed in Section 1 of the Annex, depending upon the nature of their services and activities.
3. The obligation to keep the records listed in Section 1 of the Annex shall not affect any obligation to keep records set out in any other Union act.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
