Recital 1

(1)To enable competent authorities to assess whether legal persons or other undertakings that intend to offer to the public or seek the admission to trading of asset-referenced tokens (‘applicant issuers’) meet the requirements laid down in Title III of Regulation (EU) 2023/1114 and do not fall in any of the grounds justifying the refusal of authorisation, the information to be provided in an application for authorisation to offer to the public or to seek admission to trading of an asset-referenced token submitted in accordance with Article 18(1) of that Regulation should be sufficiently detailed and comprehensive.