The rule.
“shall not contain any assertions as regards the future value of the crypto-asset”
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.
- The white paper makes no assertion about the future value of the crypto-asset (the only exception is the value-loss statement in Article 6(5)).
- Because marketing must be consistent with the white paper (Article 7(1)(c)), a price target in an ad claims what the white paper is not allowed to say.
Who it applies to.
Crypto-asset white papers for crypto-assets other than asset-referenced tokens or e-money tokens — and, through Article 7(1)(c), the marketing that must be consistent with them.
Common violations in marketing copy.
[Token] to $1 by year end.
A future-value assertion the white paper cannot contain, so the marketing cannot be consistent with it.
Early buyers are positioned for 50x.
A future-value claim in another form.
Non-compliant vs compliant.
“Get in before [Token] hits $10.”
“[Token] gives access to [service]. Its value can go down as well as up, and it may lose its value in full.”
Related rules.
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Article 6(5) · European Union
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Article 7(1)(c) · European Union
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Article 7(1)(b) · 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 6(4) |
| Primary source | https://www.esma.europa.eu/publications-and-data/interactive-single-rulebook/mica/article-6-content-and-form-crypto-asset |
| 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.