The Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations 2025
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Change 1
16 Penalties for failure to provide notification to reportable users and reportable persons
If a UK reporting cryptoasset service provider fails to comply with regulation 8 (notification to reportable users and reportable persons), the UK reporting cryptoasset service provider is liable— (a) to a penalty not exceeding £100 for each reportable person in respect of which one or more failures have occurred, and (b) if any of the failures continue after notice of an assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £100 for each subsequent day on which any of the failures continue.
16 Penalties for failure to provide notification to reportable users and reportable persons
If a UK reporting cryptoasset service provider fails to comply with regulation 8 (notification to reportable users and reportable persons), the UK reporting cryptoasset service provider is liable— (a) to a penalty not exceeding £100 for each reportable person in respect of which one or more failures have occurred, and (b) if any of the failures continue after notice of an assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £100 for each subsequent day on which any of the failures continue.
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