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Section 215ZB: Meaning of "UK-connected cryptoasset service provider"

Proceeds of Crime Act 2002 · 2002 c. 29View on legislation.gov.uk

Part 4: Confiscation: Northern Ireland

"UK-connected cryptoasset service provider" in section 215ZA means a cryptoasset service provider which—

is acting in the course of business carried on by it in the United Kingdom,
has terms and conditions with the persons to whom it provides services which provide for a legal dispute to be litigated in the courts of a part of the United Kingdom,
holds in the United Kingdom any data relating to the persons to whom it provides services, or
meets the condition in subsection (2).

The condition in this subsection is that—

the cryptoasset service provider has its registered office or, if it does not have one, its head office in the United Kingdom, and
the day-to-day management of the provider's business is the responsibility of that office or another establishment maintained by it in the United Kingdom.

"Cryptoasset service provider" in subsections (1) and (2) includes a cryptoasset exchange provider and a custodian wallet provider; and for this purpose—

  • "cryptoasset exchange provider" means a firm or sole practitioner who by way of business provides one or more of the following services, including where the firm or sole practitioner does so as creator or issuer of any of the cryptoassets involved—exchanging, or arranging or making arrangements with a view to the exchange of, cryptoassets for money or money for cryptoassets;exchanging, or arranging or making arrangements with a view to the exchange of, one cryptoasset for another;operating a machine which utilises automated processes to exchange cryptoassets for money or money for cryptoassets;

  • "custodian wallet provider" means a firm or sole practitioner who by way of business provides services to safeguard, or to safeguard and administer—cryptoassets on behalf of its customers, orprivate cryptographic keys on behalf of its customers in order to hold, store and transfer cryptoassets.

In the definition of "cryptoasset exchange provider" in subsection (3), "cryptoasset" includes a right to, or interest in, a cryptoasset.

The Secretary of State may by regulations amend the definitions in subsection (3) (including by amending subsection (4)).

The Secretary of State must consult the Department of Justice in Northern Ireland before making regulations under subsection (5).

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.