Regulation 49 Amendment of the Payment Services Regulations 2017

The Payment Services Regulations 2017^f1 are amended as follows.

In Schedule 1 (payment services), in Part 2 (activities which do not constitute payment services), after paragraph 3 insert—

“4

The activity specified by article 9M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (issuing qualifying stablecoin) does not constitute a payment service.”.