(1) The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020 [S.I. 2020/1474, amended by S.I. 2022/500.] are amended as follows.

(2) In regulation 25 (finance reporting obligations: meaning of relevant firm) -

(a) after paragraph (1)(g) insert -

"(h) a cryptoasset exchange provider;

(i) a custodian wallet provider.";

(b) after paragraph (3) insert -

"(3A) In paragraph (1), a "cryptoasset exchange provider" means a firm or sole practitioner that 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.