# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 98: Application of section 137B of the Act to backing assets for qualifying stablecoin


(1) For the purposes of the FCA making rules in relation to the activity specified by article 9M (issuing qualifying stablecoin), section 137B of the Act (FCA general rules: clients’ money, right to rescind etc) applies as if references to “clients’ money” and “money” include a sum or asset received or held as a backing asset for the purposes of a qualifying stablecoin.
(2) For the purposes of paragraph (1), a “sum or asset received or held as a backing asset” includes where the sum or asset received or held is categorised as, is to be treated as or should be held as a backing asset under rules made by the FCA in relation to the regulated activity specified by article 9M.

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/98 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-98
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.