reg 56A Transitional provision for existing cryptoasset businesses: requirement to register
(1) Regulation 56 does not apply to an existing cryptoasset exchange provider or existing custodian wallet provider until— (a) the date the person is included in the register maintained under regulation 54(1A) following the determination of its application by the FCA; (b) where the FCA gives the person notice under regulation 59(4)(b) of the FCA’s decision not to register that person— (i) the date on which the FCA states that the decision takes effect, or (ii) if the FCA considers that the interests of the public require its decision to have immediate effect, the date on which the FCA gives a notice to the person which includes a statement to that effect and the reasons for it; or (c) 10th January 2021 if before that date neither of the following has occurred— (i) the giving of notice to that person by the FCA under regulation 59(3); (ii) the expiry of the period specified in regulation 59(3A) for the FCA to give such notice. (2) In this regulation, “existing cryptoasset exchange provider” and “existing custodian wallet provider” mean a cryptoasset exchange provider or custodian wallet provider which was carrying on business as a cryptoasset exchange provider or custodian wallet provider (as the case may be) in the United Kingdom immediately before 10th January 2020.