Section 7Part 2 — Registered Persons and Virtual Asset Service Licensees
Registered person: virtual asset issuance
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A registered person shall not issue virtual assets directly to members of the public in excess of the prescribed threshold. 5 (1A) A registered person shall, prior to issuing virtual assets, submit an issuance request to the Authority in the prescribed form and obtain the approval of the Authority prior to the issuance. 6
Where a virtual asset issuance is within the prescribed threshold and involves the transfer or exchange of virtual assets or fiat currency, a registered person shall maintain records containing such information as may be specified by the Authority for every transaction of the issuance involving the public and the registered person shall make the records available to the Authority when requested.
Notwithstanding subsections (1), (1A) and (2), a registered person may, in accordance with subsection
, engage one or more virtual asset trading platforms that are obliged entities or licen sed under this Act for the issuance of newly created virtual assets over the prescribed threshold and the virtual assets shall be issued by way of these virtual asset trading platforms. 7 (4) A registered person under subsection (3) shall, prior to engaging an obliged or licensed virtual asset trading platform for the issuance of newly created virtual assets, submit a virtual asset issuance request to the Authority in the prescribed form and obtain the approval of the Authority. Virtual asset service licence