The rule.
“a right of redemption against the issuer at any time”
Verbatim extract, read on 4 November 2026 from the source below. Everything else on this page is NorthPoint’s plain-English reading.
What it requires.
- A clear and unambiguous statement that every holder of the asset-referenced token has a right of redemption against the issuer at any time.
- The statement sits in the communication itself — not only in the terms of service.
Who it applies to.
Marketing communications for an asset-referenced token, and the issuer that prepares them.
Common violations in marketing copy.
Swap into [ART] instantly on any partner exchange.
Talks about liquidity on venues but never states the holder's redemption right against the issuer.
Redeem during business hours for verified institutional clients.
Framing redemption as restricted contradicts the statement the provision requires.
Non-compliant vs compliant.
“Sell [ART] any time on the open market.”
“Every holder of [ART] has a right of redemption against [Issuer] at any time. How to redeem: [website].”
Related rules.
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Article 29(1) · European Union
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Article 53(2) · European Union
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Article 53(1) · European Union
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Markets in Crypto-Assets Regulation (EU) 2023/1114.
Source.
| Instrument | Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) |
|---|---|
| Provision | Article 29(2) |
| Primary source | https://www.esma.europa.eu/publications-and-data/interactive-single-rulebook/mica/article-29-marketing-communications |
| Official text | https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng |
| Read from | ESMA Interactive Single Rulebook, one page per article (ESMA's own publication of the MiCA text) |
| Checked |
This page is general, sourced information for marketing teams, not legal advice. The examples are written by NorthPoint to illustrate the rule; for a binding view on your own promotion, retain qualified counsel in the jurisdiction concerned.