Section 64B

In this Part— “batch file transfer” means a bundle of individual inter-cryptoasset business transfers from a single originator put together by a cryptoasset business of the originator for transmission to a cryptoasset business of a beneficiary or beneficiaries; “beneficiary” means the intended recipient of a cryptoasset from an originator; “cryptoasset” has the meaning given in regulation 14A(3)(a) (cryptoasset exchange providers and custodian wallet providers) and includes a right to, or interest in, the cryptoasset; “cryptoasset business” means a cryptoasset exchange provider or a custodian wallet provider; “cryptoasset transfer” means an inter-cryptoasset business transfer or an unhosted wallet transfer; “inter-cryptoasset business transfer” means a transaction carried out by two or more cryptoasset businesses which involves the making available of a cryptoasset of an originator to a beneficiary, provided that at least one of the cryptoasset businesses involved in the transaction is carrying on business in the United Kingdom in respect of the transaction (whether that is a cryptoasset business acting for the originator or a cryptoasset business acting for the beneficiary or an intermediary cryptoasset business); “intermediary cryptoasset business” means a cryptoasset business which, in the course of an inter-cryptoasset business transfer— is not acting for the originator or the beneficiary; and receives and transmits a cryptoasset on behalf of a cryptoasset business; “originator” means a person who owns a cryptoasset and allows a transfer of that cryptoasset; “unhosted wallet” means software or hardware that enables a person to store and transfer a cryptoasset on their own behalf, and in relation to which a private cryptographic key is administered by that person; “unhosted wallet transfer” means the transfer of a cryptoasset either— with a view to making the cryptoasset available to the beneficiary; by an originator from an unhosted wallet to the cryptoasset business of a beneficiary, or by the cryptoasset business of the originator to the unhosted wallet of a beneficiary, “unique transaction identifier” means the combination of letters, numbers or symbols determined by a cryptoasset business which permits the traceability of the transaction from the originator to the beneficiary; “working day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom.

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