# The Reporting Cryptoasset Service Providers (Due Diligence and Reporting Requirements) Regulations 2025, Regulation 19: Liable persons

Extent: E+W+S+N.I.

(1) Where under this Part—
(a) a reporting cryptoasset service provider or self-certification provider is made liable to a penalty, and
(b) the reporting cryptoasset service provider or self-certification provider is a partnership or trust,
the liability to the penalty falls upon a liable person of the reporting cryptoasset service provider or self-certification provider.
(2) In paragraph (1), “liable person” means, in relation to—
(a) a partnership, a partner of the partnership,
(b) a trust which is not a collective investment scheme, a trustee of the trust, or
(c) a trust which is a collective investment scheme, a trustee, manager or operator of the scheme.
(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.

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Source: https://www.legislation.gov.uk/uksi/2025/744/regulation/19 (the official version)
Page: https://openlegislation.uk/reporting-cryptoasset-service-providers-due-diligence-and-reporting-requirements-regulations-2025/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.