Section 42(5A)

“Payment service provider” in relation to a payment system that includes arrangements using digital settlement assets means— a person responsible for managing the issuance and redemption of digital settlement assets; a person whose business or occupation is to safeguard, or to safeguard and administer digital settlement assets, including their private cryptographic keys (or means of access); a digital settlement asset exchange provider; a person who— sets rules, standards, or conditions of access or participation in relation to the system, or provides any service that facilitates, or supports, a transfer of money or digital settlement assets to be made using the system, including any infrastructure provider in relation to the system.

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Source: legislation.gov.uk · retrieved 2026-09-04