Amendment of the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001
2. In the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001(1), after paragraph 21(2) of the Schedule (arrangements not amounting to a collective investment scheme), insert—
“Qualifying cryptoasset staking
22.—(1) Arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme.
(2) In this paragraph—
“blockchain validation” means the validation of transactions on—
a blockchain; or
a network that uses distributed ledger technology or other similar technology;
“qualifying cryptoasset” has the meaning given by paragraph 26F (qualifying cryptoasset) of Part 2 (controlled investments) of Schedule 1 to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005(3);
“qualifying cryptoasset staking” means the use of a qualifying cryptoasset in blockchain validation.”.
S.I. 2001/1062, to which there are amendments not relevant to this Order.
Paragraph 21 was inserted by S.I. 2001/3650.
S.I. 2005/1529. Paragraph 26F of Part 2 of Schedule 1 was inserted by S.I. 2023/612.