{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-11",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-11.json",
  "legislation": "ukdsi/2025/9780348277586",
  "legislation_title": "The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025",
  "path": "regulation/11",
  "kind": "regulation",
  "number": "11",
  "heading": "Disclosure of information",
  "text": "(1) Paragraph (2) applies in relation to an offer of a qualifying cryptoasset to the public in the United Kingdom if—\n(a) the offer is of a kind specified by Part 1 (exceptions from prohibition of offers to the public) of Schedule 1, and\n(b) the total consideration for the qualifying cryptoasset being offered in the United Kingdom amounts, in value, to at least £500,000, or an equivalent amount (see paragraph (5)).\n(2) In the event that material information is disclosed by, or on behalf of, the person responsible for the offer and addressed to a person considering buying or subscribing for the qualifying cryptoasset in oral or written form, that information must—\n(a) in a case where designated activity rules made by virtue of regulation 9, or rules made by a relevant authorised operator of a qualifying cryptoasset trading platform, require the publication of a qualifying cryptoasset disclosure document, supplementary disclosure document or other document, be included in that qualifying cryptoasset disclosure document, supplementary disclosure document or other document;\n(b) in any other case, be disclosed to any other persons to whom the offer is addressed.\n(3) In determining whether an offer (“offer A”) falls within paragraph (1)(b), offer A is to be taken together with any connected offer of a qualifying cryptoasset of the same kind as that to which offer A relates which was open at any time within the period of 12 months ending with the day on which offer A is first made.\n(4) In paragraph (3), offer A is connected to another offer (the “connected offer”) if the person responsible for offer A is also responsible for the other offer.\n(5) Paragraph 11 of Schedule 1 (meaning of an “equivalent amount”) applies for the purposes of paragraph (1)(b) as it applies for the purposes of Part 1 of that Schedule.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2025/9780348277586/regulation/11",
    "retrieved_at": "2026-10-30T14:38:18.364924+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}