--- title: "ERIR (Entity Responsible for the Registration and Recording)" url: "https://www.unknowngravity.com/en/glosario/erir-entidad-de-registro-e-identificacion-registral" site: Unknown Gravity published: "2025-06-07T15:30:12+00:00" modified: "2026-07-30T15:43:02+00:00" language: en-US description: "The ERIR (Entity Responsible for the Registration and Recording) is the figure created by Spain's Securities Markets and Investment Services Act (Law 6/2023, LMVSI) to handle the registration and…" section: "Home > ERIR (Entity Responsible for the Registration and Recording)" --- # ERIR (Entity Responsible for the Registration and Recording) GLOSSARY · BLOCKCHAIN & WEB3 Spain's Law 6/2023 requires an ERIR to register tokenized securities on DLT. See who may act as one, what it answers for and why the CNMV supervises it. WHAT IS IT? · FOR DUMMIES The **ERIR** is the body that keeps the official record of who owns each security (shares, bonds, units) when that security is issued on a blockchain. It works like a traditional securities registry, but on distributed ledger technology: it records who holds what and gives that entry legal effect. Without a designated ERIR, you cannot issue tokenized securities with legal backing in Spain. WHAT IS IT? · PRO The **ERIR (Entity Responsible for the Registration and Recording)** is the figure created by Spain's Securities Markets and Investment Services Act (Law 6/2023, LMVSI) to handle the registration and recording of **transferable securities represented through distributed ledger technology (DLT)**, such as blockchain. It is the digital equivalent of the entity that keeps the book-entry records of traditional securities (Law 6/2023 LMVSI, BOE-A-2023-7053). It is designated in the **issuance document** of the securities. The ERIR is liable to anyone harmed by a failure to register, by inaccuracies or delays in the record and, in general, by any breach of its obligations. For primary-market issuance, the ERIR must be an **entity authorized to provide custody of financial instruments in Spain**: a credit institution, an investment firm (sociedad de valores) or a broker-dealer (agencia de valores). Its activity is supervised by the **CNMV**. The first ERIR authorized in Spain was Ursus-3 Capital, on 22 November 2024. The ERIR should not be confused with an identity or KYC service: its function is registral. Nor is it governed by MiCA, because transferable securities are financial instruments and fall under MiFID II and the LMVSI (MiCA Regulation (EU) 2023/1114, Art. 2(4)). The trading infrastructure for these securities may, in addition, operate under the DLT Pilot Regime (Regulation (EU) 2022/858). ## 01 / Key points - Registers and records transferable securities (shares, bonds, units) represented through DLT/blockchain. - A figure created by Law 6/2023 (LMVSI); designated in the issuance document. - In the primary market it must be an entity authorized to provide custody of financial instruments: a credit institution, an investment firm or a broker-dealer. - Liable for failure to register and for inaccuracies or delays in the record. - Supervised by the CNMV. The first authorized ERIR was Ursus-3 Capital (22 November 2024). - It is not an identity/KYC service and is not governed by MiCA (securities fall under MiFID II and the LMVSI). ## 02 / Advantages - Allows an issue of transferable securities to be represented using DLT in compliance with the registry regime of the LMVSI. - Replaces the traditional book-entry record with a DLT-based registry that offers the same guarantees. - Has clearly defined legal liability for failures, inaccuracies or delays in the record. - Enables the issuance of security tokens with regulatory backing in Spain. ## 03 / Disadvantages - Requires the involvement of a regulated entity authorized to provide custody of financial instruments. - It is a recent figure, with still few operators authorized by the CNMV. - Subject to CNMV supervision and to demanding technical requirements. RELATED CONCEPTS [KYC (Know Your Customer)](/en/glosario/kyc-know-your-customer) [Digital identity](/en/glosario/identidad-digital) [Tokenization](/en/glosario/tokenizacion) [Security Token](/en/glosario/security-token) [Digital signature](/en/glosario/firma-digital) KEEP LEARNING [Tokenization under the ERIR: everything you need to know](/en/articulos/tokenizacion-bajo-erir-todo-lo-que-necesitas-saber) [CNMV and tokenization: which companies can issue regulated tokens in Spain?](/en/articulos/cnmv-y-tokenizacion-que-empresas-pueden-emitir-tokens-regulados-en-espana) [Complete Guide to Launching a Security Token Offering (STO) in Europe: Everything You Need to Know](/en/articulos/guia-completa-lanzar-security-token-offering-sto-europa-todo-lo-que-debes-saber) [What assets can you (really) tokenize? From theory to real cases](/en/articulos/que-activos-puedes-tokenizar-de-verdad-de-la-teoria-a-los-casos-reales) [What is the difference between regulated and unregulated tokenization?](/en/articulos/tokenizacion-regulada-vs-no-regulada-diferencias-clave-y-que-debes-saber) RELATED SERVICES [Tokenization of real estate](/en/servicios/tokenizacion-de-inmuebles) [Asset tokenization](/en/servicios/tokenizacion-activos) [White label tokenization platform](/en/servicios/plataforma-tokenizacion-marca-blanca) [Digital Identity Management](/en/servicios/blockchain-para-gestion-de-identidades-digitales) [Blockchain consulting for companies](/en/servicios/consultoria-blockchain) [Token issuance](/en/servicios/emision-de-tokens) [Whitepapers](/en/servicios/whitepapers) [Full glossary](/en/glosario) This entry is informative. It is not legal, tax or investment advice. The rules cited change: check the current version on [BOE](https://www.boe.es) and [EUR-Lex](https://eur-lex.europa.eu).