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Section 206AA Service providers connected with a recognised payment system that uses digital settlement assetsF1

For the purposes of section 206A(3A), a person provides services connected with the system where—

(a)

the person creates or issues the digital settlement assets involved in the payment system,

(b)

the person provides services to safeguard, or to safeguard and administer, digital settlement assets including their private cryptographic keys (or means of access),

(c)

the person is directly involved in any of the activities mentioned in paragraphs (a) or (b),

(d)

the person is a digital settlement asset exchange provider,

(e)

the person sets rules, standards, or conditions of access or participation in relation to the payment system, or

(f)

the person provides any service that facilitates, or supports, a transfer of money or digital settlement assets to be made using the payment system, including any infrastructure provider in relation to the system.

Annotations

Textual amendments

F1

S. 206AA inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 38

Notes on Part 5

Textual amendments

F1

Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2

F2

Words in Pt. 5 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 2