Modifies effect of Money laundering, terrorist financing and transfer of funds (information on the payer) regulations 2017 (MLRs) and makes minor amendments to FSMA 2023 (digital securities sandbox) sandbox regulations 2023 (DSS regulations).
It temporarily disapplies the provisions of the MLRs that apply to cryptoassets (and other related concepts as defined in reg 14A) for activities in scope of the DSS.
It does this by inserting a fifth table into the schedule to the DSS regulations.
The MLRs would continue to apply to firms outside of the DSS as appropriate.
