Modifications: Control over registered cryptoasset exchange providers and registered custodian wallet providers
1. With respect to an acquisition of or an increase in control over a cryptoasset business, Part 12 of FSMA (control over authorised persons) [2000 c. 8.] applies with the following modifications -
(a) references to a "UK authorised person" are to be read as references to a registered cryptoasset exchange provider or registered custodian wallet provider to which Part 12 of FSMA does not otherwise apply;
(b) references to "appropriate regulator" and "each regulator" are to be read as references to the FCA;
(c) section 178 (obligation to notify the appropriate regulator: acquisitions of control) [Subsection (2ZA) was added by S.I. 2018/135; subsection (2A) was added by section 26(1) and (3) of the Financial Services Act 2012 (c. 21).] is to be read as if -
(i) subsection (2ZA) were omitted;
(ii) subsection (2A) were omitted;
(d) section 181 (acquiring control) [S
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