The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order SI 2025/17 provides that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme for the purposes of Financial Services and Markets Act 2000 s 235. That section sets out the definition of ‘collective investment scheme’ and empowers the Treasury to exclude particular arrangements from that definition. The Order comes into force on 31 January 2025.
The rationale for this change is to provide certainty for industry around the treatment of qualifying cryptoasset staking to put beyond doubt that services connected with staking are not within the s 235 definition – meaning that businesses offering staking services to UK customers will be able to do so without being subject to the collective investment scheme rules.
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The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order SI 2025/17 provides that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme for the purposes of Financial Services and Markets Act 2000 s 235. That section sets out the definition of ‘collective investment scheme’ and empowers the Treasury to exclude particular arrangements from that definition. The Order comes into force on 31 January 2025.
The rationale for this change is to provide certainty for industry around the treatment of qualifying cryptoasset staking to put beyond doubt that services connected with staking are not within the s 235 definition – meaning that businesses offering staking services to UK customers will be able to do so without being subject to the collective investment scheme rules.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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