ANNEX
CRITERIA FOR THE SELF-ASSESSMENT OF CRYPTO-ASSET SERVICE PROVIDERS
(a) | The nature of the crypto-asset service provider, based on the following elements: the class designation referred to in Annex IV to Regulation (EU) 2023/1114; the average liquidity levels, or market depth, of crypto-assets available to trade on a trading platform for crypto-assets, where applicable; the role of the crypto-asset service provider in the financial system, including whether the crypto-asset service provider operates a trading platform for crypto assets and whether crypto-assets traded on its platform are traded on other trading platforms for crypto-assets. |
(b) | Scale, by assessing the impact of the crypto-asset service provider on the orderly functioning of the markets based on the following elements, where applicable: whether the crypto-asset service provider qualifies as significant as referred to Article 85 of Regulation (EU) 2023/1114; the number of countries in which the crypto-asset service provider is conducting business activity; the number of clients; the number of active users; the value of crypto-assets held in custody; the volume of transactions on a trading platform for crypto-assets; the number of transfers of crypto-assets conducted on behalf of clients; the number of orders executed on behalf of clients. |
(c) | Complexity, by assessing the following elements, where applicable: the structure of the crypto-asset service provider in terms of ownership and governance, and its organisational, operational, technical, physical, and geographical presence; the level of outsourcing of the crypto-asset service provider, and in particular whether any critical or important operational functions have been outsourced; the number and type of distributed ledgers used in the execution of services; the number of DLT network nodes the crypto-asset service provider operates on one or multiple distributed ledger(s); the number and type of smart contracts deployed and maintained by the crypto-asset service provider; how the private cryptographic keys of clients or other means of accessing crypto-assets are secured under safekeeping; the use of software and hardware-based custodial wallets or wallets that secure cryptographic keys using multiple fiduciaries. |
For the purposes of points (b)(iii) to (viii), the crypto-asset service provider shall use for the self-assessment the daily average over a one-year reference period.