Q&As

Should 'arranging or making arrangements with a view' under the definition of a 'cryptoexchange exchange provider' in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692, reg 14 be interpreted in the same way as 'arranging or making arrangements with a view' under the Financial Services and Markets Act (Regulated Activities) Order 2001, SI 2001/544, reg 25(1) and (2)?

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Published on LexisPSL on 29/05/2020

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • Should 'arranging or making arrangements with a view' under the definition of a 'cryptoexchange exchange provider' in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692, reg 14 be interpreted in the same way as 'arranging or making arrangements with a view' under the Financial Services and Markets Act (Regulated Activities) Order 2001, SI 2001/544, reg 25(1) and (2)?

Should 'arranging or making arrangements with a view' under the definition of a 'cryptoexchange exchange provider' in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692, reg 14 be interpreted in the same way as 'arranging or making arrangements with a view' under the Financial Services and Markets Act (Regulated Activities) Order 2001, SI 2001/544, reg 25(1) and (2)?

See: section 22 in Part II of the Joint Money Laundering Steering Group's (JMLSG) guidance. In particular, paragraphs 1.11 to 1.13 state:

‘1.11. The definition [of a cryptoasset exchange provider] is broad, providing for exchanging as well as “arranging or making arrangements with a view to the exchange”. This may include activities relating to a dedicated peer-to-peer platform. However, it is not intended to

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