# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 9R: Article 9N exclusion: other exclusions


(1) A person (“P”) does not carry on the activity specified by article 9N(1)(a) on behalf of another person (“A”), if A appoints P as their agent for the purposes of giving instructions to a third person (“C”), where C has undertaken directly to A to safeguard that cryptoasset.
(2) A person (“P”) does not carry on the activity specified by article 9N(1)(a) on behalf of another person (“A”) unless P holds itself out as engaging in the business of providing a service in relation to a qualifying cryptoasset or a relevant specified investment cryptoasset to A, or to a person acting on behalf of A.
(3) There is excluded from article 9N(1) any activity where the qualifying cryptoasset in question is, or is to be, safeguarded by a person (“A”), or a member of the same group as A, for the purpose of enabling or facilitating transactions by A, or a member of the same group as A, that would be within article 9T (dealing in qualifying cryptoassets as principal) but for the operation of article 9V(1)(e).

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/9R (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-9R
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.