{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-23",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-23.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/23",
  "kind": "regulation",
  "number": "23",
  "heading": "Exclusions: insider dealing",
  "text": "(1) A person does not contravene any prohibition in regulation 22 (prohibited use of inside information (insider dealing))—\n(a) where the conduct that would otherwise fall within that regulation is a legitimate cryptoasset market practice, or\n(b) in circumstances specified in designated activity rules made by virtue of paragraph (2).\n(2) The FCA may make designated activity rules—\n(a) specifying circumstances in which a person who possesses inside information is not to be regarded as—\n(i) using that information;\n(ii) contravening the prohibition in regulation 22;\n(b) in relation to the application of sub-paragraph (a) as the FCA considers appropriate.",
  "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/23",
    "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."
}