[F1DefinitionsU.K.
Textual Amendments
F1Pt. 5 Chs. 3C-3F inserted (26.10.2023 for specified purposes) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b)(c), Sch. 9 para. 1
303Z35DefinitionsU.K.
(1)In this Chapter—
(a)“cryptoasset exchange provider” means a firm or sole practitioner who by way of business provides one or more of the following services, including where the firm or sole practitioner does so as creator or issuer of any of the cryptoassets involved—
(i)exchanging, or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets,
(ii)exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another, or
(iii)operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets;
(b)“custodian wallet provider” means a firm or sole practitioner who by way of business provides services to safeguard, or to safeguard and administer—
(i)cryptoassets on behalf of its customers, or
(ii)private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets;
(c)“cryptoasset service provider” includes cryptoasset exchange provider and custodian wallet provider.
(2)For the purposes of subsection (1)(a), “money” means—
(a)money in sterling,
(b)money in any other currency, or
(c)money in any other medium of exchange,
but does not include a cryptoasset.
(3)In the definition of “cryptoasset exchange provider” in subsection (1), “cryptoasset” includes a right to, or interest in, a cryptoasset.
(4)The Secretary of State may by regulations amend the definitions in this section.
(5)The Secretary of State must consult the Scottish Ministers and the Department of Justice before making regulations under subsection (4).]