Schedule 6B, paragraph 2(1)

For the purposes of this Part, a person (“A”) reduces control over a registered cryptoasset business (“B”) if, should the decrease in control proceed— A would cease to be a beneficial owner within the meaning given by regulation 5 or 6 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 of— B; or a parent undertaking of B (“P”); or if paragraph (a) does not apply— the percentage of shares which A holds in B or P would decrease by any of the steps mentioned in subsection (2); the percentage of voting power A holds in B or P would decrease by any of the steps mentioned in subsection (2); or A ceases to be a parent undertaking of B.

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