You are viewing CRYPTO 10.4 Notification requirement as it appeared on 25/10/2027. The current version of CRYPTO 10.4 Notification requirement was last updated on 25/10/2027.

CRYPTO 10.4 Notification requirement

25/10/2027R
  1. (1) A firm must provide a notification to a retail client:
    1. (a) within 12 months of the retail client providing consent pursuant to CRYPTO 10.3.1R; and
    2. (b) within 12 months of the last notification provided to the retail client under this section.
  2. (2) The notification in (1) must include:
    1. (a) all information on the qualifying cryptoasset staking service that the firm would have provided pursuant to CRYPTO 10.2.1R;
    2. (b) the key terms that govern the qualifying cryptoasset staking service, which may include only those key terms in respect of which the firm obtained the retail client’s express prior consent pursuant to CRYPTO 10.3.1R or may include terms in respect of which material changes have been made during the course of the agreement;
    3. (c) a list of qualifying cryptoassets, and the quantity of each, being used for qualifying cryptoasset staking for the retail client;
    4. (d) the total rewards earned by the retail client as part of the qualifying cryptoasset staking service in the past 12 months, or from the start of the qualifying cryptoasset staking service if less than 12 months, presented either as the quantity of qualifying cryptoassets or in GBP; and
    5. (e) the total fees and charges deducted over the past 12 months, or since the start of the qualifying cryptoasset staking service if less than 12 months, presented either as the quantity of qualifying cryptoassets or in GBP.
  3. (3) The content of the notification in (1) must be as up-to-date as possible and the firm must state the date on which the information was correct.
25/10/2027G
  1. (1) A firm should consider whether it may be in the best interests of the retail client to provide the notification in CRYPTO 10.4.1R(1) sooner than 12 months from the point at which the firm obtained the retail client’s express prior consent.
  2. (2) Scenarios in which it may be in the best interests of the retail client to provide the notification sooner may include but are not limited to:
    1. (a) where the information needs of the retail client may be greater due to increased complexity arising from the nature of the qualifying cryptoasset staking service;
    2. (b) where a retail client has not, for a significant period, accessed the online system (where provided by the firm) through which the retail client can view information about the qualifying cryptoasset staking service; and/or
    3. (c) where, as a result of one or more material changes having been made or proposed to the agreement, the firm considers that it would be in the retail client’s best interests to notify them sooner.
25/10/2027R

A firm must provide the notification required by CRYPTO 10.4.1R(1) in a durable medium or via a website, mobile application or any other digital medium that the firm may be using in relation to the provision of its qualifying cryptoasset staking service (where it does not constitute a durable medium) where the website conditions are satisfied.

Point In Time
25/10/2027