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2. In the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001(1), after paragraph 21(2) of the Schedule (arrangements not amounting to a collective investment scheme), insert—
22.—(1) Arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme.
(2) In this paragraph—
“blockchain validation” means the validation of transactions on—
a blockchain; or
a network that uses distributed ledger technology or other similar technology;
“qualifying cryptoasset” has the meaning given by paragraph 26F (qualifying cryptoasset) of Part 2 (controlled investments) of Schedule 1 to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005(3);
“qualifying cryptoasset staking” means the use of a qualifying cryptoasset in blockchain validation.”.
S.I. 2001/1062, to which there are amendments not relevant to this Order.
Paragraph 21 was inserted by S.I. 2001/3650.
S.I. 2005/1529. Paragraph 26F of Part 2 of Schedule 1 was inserted by S.I. 2023/612.
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