Recital 4

With regard to the classification criterion ‘amount and number of transactions affected’, the notion of transactions is broad and covers different activities and services across the sectorial acts applicable to . For the purposes of that classification criterion, payment transactions and all forms of exchange of financial instruments, crypto-assets, commodities, or any other assets, also in form of margin, collateral or pledge, both against cash and against any other asset, should be covered. All transactions that involve assets whose value can be expressed in a monetary amount should be considered for classification purposes.

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