You are viewing CRYPTO 3.5 Withdrawal rights as it appeared on 25/10/2027. The current version of CRYPTO 3.5 Withdrawal rights was last updated on 25/10/2027.

CRYPTO 3.5 Withdrawal rights

25/10/2027G

The rules in this section relate to offers of qualifying cryptoassets to the public. They specify the circumstances and manner in which a person who has agreed to buy or subscribe for a qualifying cryptoasset that is not a UK qualifying stablecoin may withdraw their acceptance under regulation 15(1) of the Cryptoassets Regulations.

25/10/2027R

In this section:

  1. (1) a reference to a QCDD is to a QCDD published under CRYPTO 3.3.1R(1); and
  2. (2) a reference to a supplementary disclosure document is to a supplementary disclosure document published under CRYPTO 3.3.4R(1).
25/10/2027R

A person who has agreed to buy or subscribe for a qualifying cryptoasset that is not a UK qualifying stablecoin may withdraw their acceptance under regulation 15(1) of the Cryptoassets Regulations if:

  1. (1) the agreement was entered into after the publication of a QCDD for the qualifying cryptoasset;
  2. (2) after the agreement was entered into, a supplementary disclosure document was published; and
  3. (3) the circumstances which required the publication of the supplementary disclosure document arose or were noted before the admission to trading of the qualifying cryptoasset on the retail UK QCATP.
25/10/2027R

The person who agreed to buy or subscribe for the qualifying cryptoasset may only withdraw their acceptance under regulation 15(1) of the Cryptoassets Regulations within 2 working days after publication of the supplementary disclosure document, unless the person responsible for the offer, or the intermediary through whom the qualifying cryptoasset was bought or subscribed for, allows an extension to this period.

25/10/2027R

Where the qualifying cryptoasset is bought or subscribed for directly from a person responsible for the offer, the person responsible for the offer must inform the person who agreed to buy or subscribe for the qualifying cryptoasset:

  1. (1) that a supplementary disclosure document may be published before the admission to trading of the qualifying cryptoasset concerned if the person who produced the QCDD becomes aware of new information or a mistake or inaccuracy relating to the information in the QCDD that may be material to a person considering buying or subscribing for the qualifying cryptoasset;
  2. (2) where a supplementary disclosure document will be published;
  3. (3) that the person who bought or subscribed for the qualifying cryptoasset may, in such circumstances, have a right to withdraw their acceptance; and
  4. (4) of the publication of a supplementary disclosure document on the day it is published.
25/10/2027R

Where the qualifying cryptoasset is bought or subscribed for through an intermediary, the intermediary must inform the person who agreed to buy or subscribe for the qualifying cryptoasset:

  1. (1) that a supplementary disclosure document may be published before the admission to trading of the qualifying cryptoasset concerned if the person who produced the QCDD becomes aware of new information or a mistake or inaccuracy relating to the information in the QCDD that may be material to a person considering buying or subscribing for the qualifying cryptoasset;
  2. (2) where a supplementary disclosure document will be published;
  3. (3) that they will assist the person who bought or subscribed for the qualifying cryptoasset in exercising their withdrawal rights; and
  4. (4) of the publication of a supplementary disclosure document on the day it is published.
Point In Time
25/10/2027