Section 56B

An authorised cryptoasset firm or specified investment cryptoasset firm must, before acting as a cryptoasset exchange provider or a custodian wallet provider or within 28 days of so doing, inform the FCA that it intends, or has begun, to act as such. Paragraph (1) does not apply to an authorised cryptoasset firm or specified investment cryptoasset firm which— immediately before the date specified by regulation 1(2) of the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (citation, commencement and extent) (“the full commencement day”) was acting as a cryptoasset exchange provider or custodian wallet provider and continues to act as such after that date, and informs the FCA that it is acting as such within 30 days beginning with the full commencement day. Where an authorised cryptoasset firm or specified investment cryptoasset firm ceases to act as a cryptoasset exchange provider or a custodian wallet provider, it must inform the FCA within 28 days beginning with the day of ceasing to act as such. If, at any time after an authorised cryptoasset firm or specified investment cryptoasset firm (“A”) has provided the FCA with any information under this regulation— then A must provide the FCA with details of the change or a correction of the inaccuracy within 30 days beginning with the date of the change or the discovery of the inaccuracy. there is a material change affecting any matter contained in that information, or it becomes apparent to A that the information contains an inaccuracy, Any information provided to the FCA under this regulation must be in such form and verified in such manner as the FCA may specify. Any requirement imposed by this regulation is to be treated as if it were a requirement imposed by or under FSMA.

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