{
  "url": "https://openlegislation.uk/reporting-cryptoasset-service-providers-due-diligence-and-reporting-requirements-regulations-2025/regulation-19",
  "json_url": "https://openlegislation.uk/reporting-cryptoasset-service-providers-due-diligence-and-reporting-requirements-regulations-2025/regulation-19.json",
  "legislation": "uksi/2025/744",
  "legislation_title": "The Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/reporting-cryptoasset-service-providers-due-diligence-and-reporting-requirements-regulations-2025",
  "path": "regulation/19",
  "kind": "regulation",
  "number": "19",
  "heading": "Liable persons",
  "text": "(1) Where under this Part—\n(a) a reporting cryptoasset service provider or self-certification provider is made liable to a penalty, and\n(b) the reporting cryptoasset service provider or self-certification provider is a partnership or trust,\nthe liability to the penalty falls upon a liable person of the reporting cryptoasset service provider or self-certification provider.\n(2) In paragraph (1), “liable person” means, in relation to—\n(a) a partnership, a partner of the partnership,\n(b) a trust which is not a collective investment scheme, a trustee of the trust, or\n(c) a trust which is a collective investment scheme, a trustee, manager or operator of the scheme.\n(3) In this regulation, “collective investment scheme” means any arrangements that are a “collective investment scheme” within the meaning of the Financial Services and Markets Act 2000.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 19 in force at 1.1.2026, see reg. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "2000 c. 8. The meaning of “collective investment scheme” is given in section 235 of the Financial Services and Markets Act 2000. The power under section 235(5) to provide that arrangements do not amount to a collective investment scheme has been exercised by the Treasury by the following instruments: S.I. 2001/1062, 2001/3650, 2005/57, 2007/800, 2008/1641, 2008/1813, 2015/754, 2015/2061, 2021/90, 2021/566, 2022/466 and 2025/17."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/744/regulation/19",
    "retrieved_at": "2026-10-28T21:14:24.656229+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}