Scope and asset file
Preserve the crypto-asset, feature set, marketing or distribution channel, sale route, activity or practice, affected Member States, source URL, retrieval date, owner, and unresolved external-advice questions.
What Article 103 changes operationally
ESMA temporary intervention powers: ESMA's Interactive Single Rulebook publishes Regulation (EU) 2023/1114 Article 103 with the title “ESMA temporary intervention powers”. Public Article 103 text says ESMA may, where stated conditions are fulfilled, temporarily prohibit or restrict the marketing, distribution, or sale of certain crypto-assets other than asset-referenced tokens or e-money tokens, or a type of activity or practice related to those crypto-assets.
The public text refers to conditions including a significant investor protection concern, a threat to the orderly functioning and integrity of markets in crypto-assets, or a threat to the stability of the whole or part of the Union financial system. It also refers to regulatory requirements not addressing the threat, relevant competent authorities not acting or not adequately addressing the threat, notification to relevant competent authorities, and ESMA needing to publish on its website a notice of a decision to take a measure.
This page is a record-preparation checklist. It is not a legal interpretation, market-access instruction, supervisory-response instruction, authorisation opinion, trading recommendation, provider endorsement, broker recommendation, or assurance about any crypto-asset, service, activity, restriction, competent-authority action, ESMA measure, notice, timing, client impact, or fact pattern.
Article 103 temporary-intervention evidence map
Concern or threat rationale
Map the investor-protection concern, market-integrity threat, or Union financial-stability threat being monitored, plus the internal evidence that supports or challenges the relevance of the public notice.
Authority-action record
Track relevant competent-authority actions, Article 94 response files, Article 102 precautionary-measure context, ESMA notification and website-notice records, timestamps, and response owners.
Client and market impact review
Document client or holder communications, trading or distribution limitations, exception assumptions, operational dependencies, complaints handoffs, Article 100 professional-secrecy notes, and Article 109 register implications.
Broker, insurer, partner, and internal-risk diligence questions
- Scope: Which crypto-asset, feature, activity, practice, client segment, market, or Member State could be affected by a prohibition or restriction?
- Evidence: What source-backed record links the issue to investor protection, market integrity, financial stability, competent-authority action, or ESMA website notices?
- Controls: Who owns client communications, trading or distribution changes, complaint routes, legal-review gates, Article 94 response files, Article 102 handoffs, and register hygiene?
FAQ
What does MiCA Article 103 cover?
Article 103 is publicly titled “ESMA temporary intervention powers”. Public text covers possible temporary prohibitions or restrictions by ESMA for certain crypto-assets other than asset-referenced tokens or e-money tokens, or related activities or practices, where specified conditions are fulfilled.
Why does Article 103 matter for CASP evidence packs?
Temporary intervention measures can affect marketing, distribution, sale, activity, or practice assumptions. A practical evidence pack should preserve source, scope, relevant competent-authority actions, ESMA notice records, timing, client-impact assumptions, response owner, and unresolved external-advice questions.
Does this page decide whether an ESMA measure applies?
No. This page does not decide applicability, validity, authority competence, market impact, client impact, or response obligations. It helps teams preserve a source-backed record for qualified legal, regulatory, competent-authority, partner, broker, insurer, auditor, or internal-risk review.