Cap. 647 Art. 34Refusal of proposed acquisitions of crypto-asset service providers.

(1) When performing the assessment referred to in

Article 83(4) of the MiCA Regulation and article 33(5), the competent authority shall appraise the suitability of the proposed acquirer and the financial soundness of the proposed acquisition referred to in Article 83(1) of the MiCA Regulation and article 33(2) against all of the following criteria:

(a) the reputation of the proposed acquirer;

(b) the reputation, knowledge, skills and experience of any person who is to direct the business of the crypto-asset provider as a result of the proposed acquisition;

(c) the financial soundness of the proposed acquirer, in particular in relation to the type of business envisaged and pursued in respect of the crypto-asset service provider in which the acquisition is proposed;

(d) whether the crypto-asset service provider will be able to comply and continue to comply with the provisions of