Explanatory note

These Regulations amend and add to the regulatory regime for certain cryptoasset activities pursuant to powers conferred by the Financial Services and Markets Act 2000 (c. 8) (“the Act”).

Part 1 of the Regulations sets out the citation, commencement, extent of the Regulations.

Part 2 of the Regulations amends other Regulations. Regulation 1 amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544), regulation 2 amends the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) and regulation 3 amends the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (S.I. 2026/102).

These amendments amend both regulated activities and controlled activities, the latter in relation to financial promotions, relating to cryptoassets for the purposes of regulation under the Act.

The Regulations also provide for the early commencement of amendments to the following instruments made in the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026—

• the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001;

• the Electronic Money Regulations 2011;

• the Alternative Investment Fund Managers Regulations 2013.

No impact assessment for these Regulations has been prepared, as no significant impacts on the costs of business, the voluntary sector and the public sector are envisaged beyond those already considered in the impact assessment for the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, which is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ and was published alongside these Regulations at www.legislation.gov.uk.