Legislation – Financial Services and Markets Act 2023
Changes to legislation:
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Section 69.
Changes to Legislation
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PART 6Miscellaneous
Amendments to FSMA 2000
69Cryptoassets
(1)
FSMA 2000 is amended as follows.
(2)
In section 21 (restrictions on financial promotion), in subsection (14) at end insert “(including where an asset, right or interest is, or comprises or represents, a cryptoasset)”
.
(3)
In section 22 (regulated activities), in subsection (4) at end insert “(including where an asset, right or interest is, or comprises or represents, a cryptoasset)”
.
(4)
In section 417 (definitions)—
(a)
““cryptoasset” means any cryptographically secured digital representation of value or contractual rights that—
(a)
can be transferred, stored or traded electronically, and
(b)
that uses technology supporting the recording or storage of data (which may include distributed ledger technology).”;
(b)
“(5)
The Treasury may by regulations amend the definition of “cryptoasset” in subsection (1).”
(5)
In section 429 (Parliamentary control of statutory instruments), in subsection (2) leave out “or 333T” and insert “, 333T or 417(5)”
.