– is a critical document for ARTs. What requirements a white paper should have:
1. The white paper should include comprehensive information about the issuer, the ART itself, and the offer or admission to trading of ARTs. This information is essential for potential buyers to make informed decisions about purchasing ARTs. It helps them understand the risks associated with investing in these tokens.
2. The white paper goes beyond the basics. It provides intricate details about the technical, environmental, financial, and legal aspects of the ARTs. This depth of information ensures transparency and helps investors evaluate the token thoroughly.
3. The white paper must meet specific quality standards. It should be clear, fair, and not misleading.
4. Issuers are obligated to publish the crypto-asset white paper on their websites. This accessible publication allows potential investors to review the document easily.
5. Failure to meet these obligations, including content quality, may result in liability for the issuer's management or the Competent Authority (CA) to a holder of ARTs. This underscores the importance of full compliance.Contents of the White Paper:
- issuer information,
- details about the ART,
- the offering to the public or admission to trading,
- rights and obligations tied to the ART,
- underlying technology,
- reserve of assets,
- the environmental impacts of the consensus mechanism used for ART issuance.
Importantly, the white paper should clearly state that ARTs may lose their value, may not always be transferable or liquid, and are not protected by investor compensation schemes or deposit guarantee schemes.
Information within the white paper should be presented concisely and comprehensibly, adhering to fairness and clarity principles.