Whitepaper

Types of tokens under MiCA Regulation

Tokens other than asset-linked or electronic money tokens. To issue these tokens, a whitepaper must be prepared, notified to the regulator (the CNB) and published on the issuer's website. The preparation of such a whitepaper is relatively quick and can be done in a matter of days to weeks. This whitepaper is not approved by the CNB.

Asset-linked tokens. If the volume of asset-linked tokens exceeds EUR 5 million and is not restricted to qualified investors, the issuer must obtain permission from the CNB before offering them to the public or admitting them to trading. The application for authorisation must include the annexes specified in the regulation. The whitepaper for this type of token must be very detailed and, among other things, addresses the details of the treatment of assets and rights associated with the tokens. The minimum capital of an issuer of asset-linked tokens is EUR 350,000.

Electronic cash tokens. Electronic money tokens may only be issued by licensed electronic money institutions. Electronic money tokens are considered to be electronic money within the meaning of the Payment Services Directive or the Payment Services Act. The issuer is required to issue a very detailed whitepaper prior to the publication of the offer. Regulatory obligations do not apply to the issuer if the volume of all tokens issued does not exceed EUR 5 million or is intended only for qualified investors.

What can we do for you?

Our office is staffed not only by lawyers, but also by experienced economists and external crypto advisors. Thanks to them, we take into account not only the legal but also the economic and technical aspects when preparing the prospectus. The result is a quickly prepared turnkey whitepaper for you. A turnkey whitepaper means that:

• we will assess and recommend the appropriate token issuance setup, based on our practical experience from clients
• we assign you a project manager who will guide you through the process and keep you informed
• we will prepare a complete whitepaper according to the European MiCA regulation
• we will handle the notification or approval of the whitepaper to the CNB
• advise on the publication of the whitepaper and the permitted promotions under the Crypto Markets Regulation
• we will inform you about the possible distribution methods of the issue

What will we need from you to do this?

Information about your economic intentions, the purpose of the use of the funds from the token issue, information about the issuer, etc. You provide us with the information by filling out an online form. We can handle everything in person, by email or by phone. 

How long will it take?

It takes approximately 1 month to prepare a basic whitepaper.

Who have we helped to issue a whitepaper?

Preparing a whitepaper is similar in some respects to the terms and conditions of an issue or a securities prospectus. We have prepared more than 100 of these documents at the firm. Therefore, we can apply this practical experience to the preparation of whitepapers. We have also been involved in the preparation of several whitepapers in the context of ICOs that have already taken place. You can find our references here.

How much will it cost?

The price will depend on the specific requirements and the type of whitepaper. You will receive a specific written quotation from us after a telephone or personal consultation. We can help you. Contact us.