(1) This Part applies in respect of a cryptoasset transfer which is not excluded by paragraph (2) or (3).
(2) This Part does not apply in respect of a transfer of funds within the meaning of Article 3.9 of the funds transfer regulation [This is defined in regulation 3 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.].
(3) This Part does not apply to a cryptoasset transfer where both the originator and the beneficiary is a cryptoasset business acting on its own behalf.