Section 14A

In these Regulations, “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, when providing such services— exchanging, or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets, exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another, or operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets. In these Regulations, “custodian wallet provider” means a firm or sole practitioner who by way of business provides services to safeguard, or to safeguard and administer— when providing such services. cryptoassets on behalf of its customers, or private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets, For the purposes of this regulation— “cryptoasset” means a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically; “money” means— but does not include a cryptoasset; and money in sterling, money in any other currency, or money in any other medium of exchange, in sub-paragraphs (a), (b) and (c) of paragraph (1), “cryptoasset” includes a right to, or interest in, the cryptoasset.

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