# The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, Regulation 25: Exclusions: prohibition on the disclosure of inside information


(1) A person (“A”) does not contravene any prohibition in regulation 24 (prohibition on the disclosure of inside information) where—
(a) the conduct that would otherwise fall within that regulation is a legitimate cryptoasset market practice, or
(b) A discloses the information for the purposes of journalism.
(2) Paragraph (1)(b) does not apply where—
(a) A, or a person closely associated with A, derived, directly or indirectly, an advantage or profits from the disclosure, or
(b) A disclosed the information with the intention of misleading the market as to the supply of, demand for, or price of a relevant qualifying cryptoasset or related instrument.
(3) For the purposes of paragraph (2)(a), a “person closely associated” has the meaning given by Article 3.1(26) of the market abuse regulation (definitions), as read with section 131AC of the Act.

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Source: https://www.legislation.gov.uk/ukdsi/2025/9780348277586/regulation/25 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.