OpenLegislation

Regulation 18 Penalties for failure to register with HMRCI1

United Kingdom

If a reporting cryptoasset service provider fails to comply with regulation 10 (registration with HMRC: UK reporting cryptoasset service providers), the reporting cryptoasset service provider is liable—

(a)

to a penalty not exceeding £1,000, and

(b)

if the failure continues after notice of assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £300 for each subsequent day on which the failure occurs.

Annotations

Commencement

I1

Reg. 18 in force at 1.1.2026, see reg. 1