On 8 March 2024, the EBA launched a consultation on Guidelines on redemption plans under MiCAR. The Guidelines specify the content of the redemption plan, the timeframe for review and the triggers for its implementation. They especially clarify the main principles governing the redemption plan like the equitable treatment of token holders, they describe the main steps for the orderly and timely implementation of the plan, including the communication plan, the content of the redemption claims and the distribution plan. They also cover the case of pooled issuance, where the same token is issued by multiple issuers, and outline the triggers for the activation of the plan by the competent authority and the cooperation with the prudential and resolution authorities. The draft Guidelines are addressed to issuers of asset-referenced tokens (ART) and of e-money tokens (EMT), as well as to competent authorities under MiCAR. The deadline of the consultation is 10 June 2024. The consultation page can be found here. The EBA will hold a virtual public hearing on the consultation paper (CP) on 22 May 2024 from 14h to 16h Paris time. Interested stakeholders are able to register using this link by 17 May at 16h CEST.