The Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations 2025
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Change 1
3 UK reporting cryptoasset service provider
(1) For the purpose of these Regulations, a UK reporting cryptoasset service provider is a reporting cryptoasset service provider which is— (a) either— (i) subject to the reporting and due diligence requirements in Sections II and III of the rules in the United Kingdom by virtue of Section I(A) of the rules, or (ii) subject to the reporting and due diligence requirements in Sections II and III of the rules in the United Kingdom with respect to relevant transactions effectuated through a branch in the United Kingdom by virtue of Section I(B) of the rules, and (b) is not exempt from the reporting and due diligence requirements to which it is subject in the United Kingdom by virtue of Section I(C) to (H) of the rules. (2) A notification under Section I(H) of the rules— (a) must be given to HMRC on or before— (i) 31st May 2027, where it relates to the calendar year 2026, or (ii) 31st January following the calendar year to which it relates, where that year is 2027 or a subsequent year, (b) has effect for the calendar year to which it relates and all subsequent calendar years until it is withdrawn, and (c) must be given and withdrawn in the form and manner specified in specific or general directions given by the Commissioners for HMRC under this regulation.
3 UK reporting cryptoasset service provider
(1) For the purpose of these Regulations, a UK reporting cryptoasset service provider is a reporting cryptoasset service provider which is— (a) either— (i) subject to the reporting and due diligence requirements in Sections II and III of the rules in the United Kingdom by virtue of Section I(A) of the rules, or (ii) subject to the reporting and due diligence requirements in Sections II and III of the rules in the United Kingdom with respect to relevant transactions effectuated through a branch in the United Kingdom by virtue of Section I(B) of the rules, and (b) is not exempt from the reporting and due diligence requirements to which it is subject in the United Kingdom by virtue of Section I(C) to (H) of the rules. (2) A notification under Section I(H) of the rules— (a) must be given to HMRC on or before— (i) 31st May 2027, where it relates to the calendar year 2026, or (ii) 31st January following the calendar year to which it relates, where that year is 2027 or a subsequent year, (b) has effect for the calendar year to which it relates and all subsequent calendar years until it is withdrawn, and (c) must be given and withdrawn in the form and manner specified in specific or general directions given by the Commissioners for HMRC under this regulation.
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