# The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, Regulation 4: “Issuing qualifying stablecoin” and the “issuer” of that qualifying stablecoin


For the purposes of this Chapter—
(a) a person is “issuing qualifying stablecoin” where that person, whether an authorised person or not, is carrying on the activity described in article 9M of the Regulated Activities Order (issuing qualifying stablecoin);
(b) the person described in paragraph (a) is to be considered the “issuer” of that qualifying stablecoin.

---
Source: https://www.legislation.gov.uk/ukdsi/2025/9780348277586/regulation/4 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-cryptoassets-regulations-2025/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.