You are viewing CRYPTO 5.3 Admission to trading requirement for intermediaries offering services as it appeared on 25/10/2027. The current version of CRYPTO 5.3 Admission to trading requirement for intermediaries offering services was last updated on 25/10/2027.

CRYPTO 5.3 Admission to trading requirement for intermediaries offering services

Admission to trading requirements for qualifying cryptoassets

25/10/2027R

This section applies where a firm is:

  1. (1) dealing in qualifying cryptoassets (as principal or agent); or
  2. (2) arranging deals in qualifying cryptoassets,
    for, or with, a retail client who is not an overseas retail client. 
25/10/2027R

A firm must not deal in qualifying cryptoassets or arrange deals in qualifying cryptoassets for or with a client unless either of the following conditions are met:

  1. (1)
    1. (a) the qualifying cryptoasset is available to be traded by retail clients on a UK QCATP and is admitted to trading on a retail UK QCATP in compliance with CRYPTO 3;
    2. (b) the UK QCATP operator has made available the QCDD and (where relevant) supplementary disclosure document for the qualifying cryptoasset in accordance with CRYPTO 3; and
    3. (c) the qualifying cryptoasset has not been withdrawn from trading on all UK QCATPs; or
  2. (2) the firm is arrange deals in qualifying cryptoassets and:
    1. (a) arranges the sale of a qualifying cryptoasset offered on condition that the qualifying cryptoasset:
      1. (i) will be available to be traded by retail clients; and
      2. (ii) will be admitted to trading on a retail UK QCATP; and
    2. (b) the UK QCATP has made available the QCDD and (where relevant) supplementary disclosure document for the qualifying cryptoasset in accordance with CRYPTO 3.
25/10/2027R

CRYPTO 5.3.2R does not apply to UK qualifying stablecoins.

25/10/2027G

Where a firm offers a trading pair of qualifying cryptoassets, either of the conditions in CRYPTO 5.3.2R must be fulfilled for both qualifying cryptoassets unless the rule in CRYPTO 5.3.6R applies. 

25/10/2027G

The rule in CRYPTO 5.3.6R sets out an exclusion to the rule in CRYPTO 5.3.2R. 

25/10/2027R

Where a qualifying cryptoasset which had been admitted to trading has been withdrawn from trading on all retail UK QCATPs, a firm may purchase the qualifying cryptoasset from a client or arrange for a client to sell their qualifying cryptoassets to another person except to a retail client. 

25/10/2027R
  1. (1) A firm must make available to clients the QCDD and (where relevant) supplementary disclosure documents for the qualifying cryptoassets it deals or arranges deals in before the client’s initiation of the transaction.
  2. (2) A firm must make available to clients the stablecoin QCDD for the UK qualifying stablecoins that it deals or arranges deals in before the client’s initiation of the transaction. 
25/10/2027G

In CRYPTO 5.3.2R and CRYPTO 5.3.7R, the documents may be made available by providing a link to where the documents are published in accordance with CRYPTO 2 and CRYPTO 3.

25/10/2027R

Where a firm (A) is arranging deals in qualifying cryptoassets, it is not required to make the QCDD, stablecoin QCDD or supplementary disclosure documents available in accordance with CRYPTO 5.3.7R where:

  1. (1) the arrangements provided by A require a client to engage with another firm (B) for the transaction to take place; and
  2. (2) B complies with the rule in CRYPTO 5.3.7R.
25/10/2027G

The rule in CRYPTO 5.3.9R is to avoid duplication of requirements where there are multiple firms involved in a transaction. Where CRYPTO 5.3.9R applies, firms should take all reasonable steps to ensure that the client will be provided with the documents specified in CRYPTO 5.3.7R by another firm before the client’s initiation of the transaction.

25/10/2027R

A firm must make and retain written records of how it continues to satisfy itself that it fulfils the requirements in this section.

Point In Time
25/10/2027