6U.K.The Terrorism Act 2000 is amended as follows.
Commencement Information
I1Sch. 10 para. 6 in force at Royal Assent for specified purposes, see s. 219(1)(2)(b)
I2Sch. 10 para. 6 in force at 26.4.2024 in so far as not already in force by S.I. 2024/269, reg. 4(c)
7U.K.In Schedule 6 (financial information)—
(a)in paragraph 6(1) (meaning of financial institution)—
(i)omit the “and” after paragraph (ha), and
(ii)after paragraph (i) insert—
“(j)a cryptoasset exchange provider, and
(k)a custodian wallet provider.”;
(b)after paragraph 6(1AA) insert—
“(1AB)For the purposes of sub-paragraph (1)(j), “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—
(a)exchanging or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets,
(b)exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another, or
(c)operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets.
(1AC)For the purposes of sub-paragraph (1)(k), “custodian wallet provider” means a firm or sole practitioner who by way of business provides services to safeguard, or to safeguard and administer—
(a)cryptoassets on behalf of its customers, or
(b)private cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets.
(1AD)For the purposes of sub-paragraphs (1AB) and (1AC), “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.
(1AE)For the purposes of sub-paragraph (1AB)—
(a)“cryptoasset” includes a right to, or interest in, the cryptoasset;
(b)“money” means—
(i)money in sterling,
(ii)money in any other currency, or
(iii)money in any other medium of exchange,
but does not include a cryptoasset.
(1AF)The Secretary of State may by regulations amend the definitions in sub-paragraphs (1AB) to (1AE).””
Commencement Information
I3Sch. 10 para. 7 in force at Royal Assent for specified purposes, see s. 219(1)(2)(b)
I4Sch. 10 para. 7 in force at 26.4.2024 in so far as not already in force by S.I. 2024/269, reg. 4(c)
8U.K.In section 123 (orders and regulations), after subsection (6ZE) insert—
“(6ZF)Regulations under paragraph 6(1AF) of Schedule 6 may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.”
Commencement Information
I5Sch. 10 para. 8 in force at Royal Assent for specified purposes, see s. 219(1)(2)(b)
I6Sch. 10 para. 8 in force at 26.4.2024 in so far as not already in force by S.I. 2024/269, reg. 4(c)