Regulatory Alerts2025-02-25
Added · Updated
Circular CSSF 25/876 — Application of EBA Guidelines on Redemption Plans under Regulation (EU) 2023/1114
Issuers of asset-referenced tokens and e-money tokens must integrate the European Banking Authority's Guidelines on redemption plans into their administrative practice and regulatory approach with immediate effect. The CSSF applies these Guidelines, which specify the content, periodicity for review, and implementation triggers for redemption plans under Articles 47 and 55 of Regulation (EU) 2023/1114. The Guidelines apply as from 10 February 2025 and require issuers to draw up and maintain operational plans to ensure the orderly redemption of tokens when the competent authority assesses that the issuer is unable or likely to be unable to fulfil its obligations.