Article 715-1 into force since 05 June 2019

When, pursuant to Article L. 552-6 of the Monetary and Financial Code, the AMF plans to order the termination of all communications concerning the token offering mentioning its approval, or to withdraw its approval, it shall first inform the token issuer in question and specify the reasons for envisaging such a decision, by a registered letter with acknowledgement of receipt or by any other means making it possible to check its date of receipt. The AMF shall specify to the token issuer that it has a time limit, set by it at no less than three working days, to submit its observations in writing.

Before making a decision, the AMF shall examine any observations expressed by the token issuer in question.

The AMF shall inform the token issuer of its decision by registered letter with acknowledgement of receipt or by any other means making it possible to check its date of receipt.

The decision shall specify the reasons why it is taken. In the case of withdrawal of the approval, the AMF shall specify whether this decision is taken on a permanent basis or temporarily until the token issuer again complies with the conditions of the approval.

The token issuer shall inform the public of the withdrawal of the approval as soon as possible, and no later than the day following receipt of notification of the AMF's decision. It shall update its website by removing all references to the AMF approval on its token offering.

The AMF shall publish on its website the decision taken pursuant to Article L. 552-6 of the Monetary and Financial Code.