# BEF-P22 - UK MARKET ACCESS & REGULATORY PERIMETER PROTOCOL > Balanced Exchange Framework (BEF) - Framework Version 1.0, 2026-08-22. > Source of record: https://balancedexchangeframe.work/doc/p22 ``` Protocol ID: BEF-P22 | Framework Version: 1.0 ``` ### 1. Namen P22 določa UK-specific regulatorni rob BEF. Njegov namen je omogočiti UK uporabo brez napačne predpostavke, da EU/MiCA status avtomatično velja tudi v United Kingdom. P22 je jurisdiction overlay: ne spreminja osnovne ekonomike P01-P21, ampak določa, katera UK vrata morajo biti zaprta pred launchom posamezne funkcije. ### 2. No automatic EEA / MiCA passport Po koncu Brexit transition period EEA firms ne morejo več uporabljati EEA passportinga za UK regulated business. BEF zato ne uporablja formulacije "Estonian CASP can passport to UK". Home-state authorisation se lahko upošteva kot del evidence in group structure, vendar UK permission/registration/exemption ostane ločen test. ### 3. Two-time-perimeter model UK launch se vedno analizira v dveh časovnih plasteh: (A) current regime do 24 October 2027 in (B) režim od 25 October 2027, če commencement ostane tak kot ga FCA trenutno navaja. Za future layer se posebej preveri tudi, ali je HM Treasury draft proprietary-trading exclusion (proposed Article 9UA) postal veljavno pravo in v kakšni končni obliki. Funkcija, ki je danes outside one perimeter, se pred commencementom ponovno klasificira. ### 4. Current MLR crypto-service test Po trenutnem FCA okviru se za business, ki by way of business opravlja in-scope cryptoasset services in carries on that business in the UK, preveri FCA registration under the Money Laundering Regulations. Current MLR definition in territorial test nista identična MiCA own-account/client-service testu, zato sama oznaka proprietary treasury ne ustvarja avtomatične UK MLR exemption. P08 UK record mora zato dokumentirati activity, by-way-of-business factors in territorial nexus. ### 5. Overseas firm without UK presence FCA trenutno navaja, da overseas cryptoasset exchange provider brez UK office ali agent in brez druge UK activity, razen tega da ima UK client/counterparty, ni avtomatično carrying on business in the UK. BEF ta faktor uporablja samo za current MLR territorial memo. Ne ustvarja blanket exemption za UK financial promotions, consumer law, payments ali future FSMA regime. ### 6. UK Financial Promotions are a separate gate Financial promotions to UK consumers se presojajo ne glede na državo sedeža firm. Website, mobile app, social media, advertisements, direct invitations/inducements, onboarding funnels in druga communications se pred objavo UK consumers vključijo v Promotion Record. Če je Lana Discount interaction omejen na corporate/professional counterparties, se target audience in uporabljena exemption/route dokumentirata; izraz B2B sam po sebi ni zadostna pravna analiza. ### 7. Marketing is not the same as passive access BEF loči pasivni cross-border access od aktivnega UK targeting. Dejstvo, da UK counterparty sam predloži proposal overseas entityju, se ne uporablja kot blanket dokaz, da lahko isti entity brez dodatnega testa aktivno trži controlled cryptoasset promotions v UK. Pri P08 se dodatno preveri, ali komunikacija opisuje lasten treasury acquisition interest ali dejansko inducira recipienta k uporabi ponujene regulated service. ### 8. Current qualifying-cryptoasset / limited-use analysis Za UK financial promotions se qualifying-cryptoasset test vodi ločeno od MiCA. Trenutna FCA Handbook definicija iz qualifying cryptoasset izključuje določene limited-use cryptoassets le, če med drugim ne morejo biti transferred or sold for money/other cryptoassets, razen redemption with issuer, in so omejeni na issuer/limited network/very limited range. Registered LANA model zato ne predpostavlja te izključitve, kadar dejanske pravice omogočajo prenos ali prodajo Lana Discountu oziroma drugemu principal purchaserju. ### 9. UK Operating Company - fiat in, LANA out Če UK-established operating company prejme GBP kot lastno kupnino in proda/dobavi Registered LANA, je ekonomsko principal seller/counterparty. Current MLR memo mora preveriti cryptoasset exchange-provider registration; P07 contract mora identificirati sellerja, fiat account, LANA source, delivery, refund rights in promotion route. Payment licence se ne predpostavlja samo zato, ker kupec plača sellerjevo lastno kupnino, vendar PSR analysis ostane potreben za vsak flow, kjer se funds držijo ali prenašajo za tretjo osebo. ### 10. UK Lana Discount - proprietary treasury acquisition Lana Discount UK-facing model sledi P08: counterparty prenese ACCEPTED LANA neposredno v proprietary treasury wallet, Lana Discount uporablja own capital, postane principal owner kupljenih LANA in sellerju poravna lastno Purchase Price. Ni client accounta, custodyja, order executiona ali merchant paymenta kot del osnovnega P08 flowa. Current MLR business/territorial memo in applicable financial-promotion record se zaključita pred UK launchom. Purchasing Capacity, Clean Provenance, ACCEPTED status, T+15 maximum deferred settlement in Obligation Ledger ostanejo obvezni controls. ### 11. 25 October 2027 - principal dealing and draft proprietary exclusion The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 v osnovnem besedilu vključujejo dealing in qualifying cryptoassets as principal. HM Treasury pa je 21 April 2026 objavil draft amending SI, ki bi vstavil Article 9UA in iz article 9T izključil activity, ki ni carried on for the purpose of providing a service to another person (the client) related to carrying on a regulated activity on behalf of that client. P08 own-account/no-client-service architecture je po substance zasnovana prav okoli tega razlikovanja. Ker je 9UA na freeze date 18 August 2026 še obravnavan kot draft proposal in FCA CP26/13 final perimeter guidance še ni objavljen, BEF ne označi prihodnje exclusion kot dokončno. CP-35/37 zahtevata final-law re-check pred reliance. ### 12. UK legal entity / permission decision follows final perimeter FCA FG26/7 je relevantna za international firms, ki dejansko potrebujejo UK crypto authorisation, in kot baseline pričakuje UK presence ter praviloma UK legal entity. 0.22 zato ne ustvarja UK Ltd zgolj zato, ker Lana Discount opravlja proprietary treasury acquisition. Najprej se uporabi final Article 9UA/RAO/FCA perimeter test. Če activity ostane excluded proprietary trading, authorisation/legal-entity requirement iz regulated dealing perimetra se ne predpostavlja; če exclusion ne velja in je activity regulated, se uporabi FCA permission ter ustrezna UK entity/presence struktura. ### 13. Authorisation gateway and transition plan FCA trenutno navaja application period 30 September 2026 to 28 February 2027 in expected commencement 25 October 2027 za in-scope firms. Lana Discount zato vodi contingency gateway plan, vendar application ni avtomatičen cilj: najprej se dokumentira, ali je po final legislation/guidance activity sploh regulated. Če je, mora biti pravočasno vzpostavljen permissions map, responsible management, regulatory business plan, financial-resources/wind-down pack in relevantna saving/transitional basis. ### 14. UK payments perimeter Crypto permission in payment permission sta ločena. P08 purchase-price transfer iz own funds neposredno sellerju za asset, ki ga Lana Discount kupi zase, se dokumentira kot njegova lastna pogodbena obveznost. Če platforma ali purchaser prejme, drži, kontrolira ali transfers funds za merchant/consumer/third party oziroma payment izvršuje kot consumer-linked service, se preverijo Payment Services Regulations 2017, FCA PERG, client-money/safeguarding in authorisation/registration. Takšen Mode B ni privzeti Lana Discount model. ### 15. UK Mode B is a separate function Če se v UK uporablja Mode B, v katerem principal purchaser po consumer crypto sale plača merchantu, se vodi ločen UK Mode B Legal Responsibility Record. Ta flow ne sme uporabljati P08 proprietary treasury conclusion kot avtomatične exemption. Če substance pokaže payment service ali regulated crypto service on behalf of consumer/merchant, funkcija ostane HOLD do zakonite licensed/exempt route. Čisti Lana Discount P08 settlement vedno teče purchaser -> seller, ne purchaser -> merchant. ### 16. UK AML / CDD / Travel Rule UK entity uporablja UK MLR risk assessment, CDD/KYB, sanctions, PEP, source-of-funds/wealth, transaction monitoring, SAR controls in record retention. UK Travel Rule se uporablja za relevantne cryptoasset transfers involving UK cryptoasset businesses. P21 identity assurance je evidence layer in ne nadomesti entity-specific UK CDD decisiona. ### 17. UK biometrics and data protection KYC biometrics za UK se upravljajo pod UK GDPR and Data Protection Act 2018. Biometric recognition for unique identification se obravnava kot special-category processing; entity mora imeti documented lawful basis, Article 9 condition, DPIA, retention, security, data-subject rights in international-transfer controls. Public Nostr attestation ostane minimalen in ne vsebuje selfieja, biometric template-a, document numberja ali screening reasons. ### 18. UK conduct, complaints and consumer protection Current financial-promotion consumer journey in future FCA-authorised crypto business sta ločena sloja. Po commencementu se za in-scope authorised activities uporabijo applicable FCA Handbook rules, ki lahko vključujejo Consumer Duty, COBS, DISP/FOS access, SYSC, reporting in other conduct requirements. P10/P19 complaint flow se zato implementira tako, da se lahko razširi na UK regulatory redress model. ### 19. UK market integrity / admissions Če LANA vstopi v UK admissions/trading perimeter, se uporabi takrat veljavni UK Admissions & Disclosures in Market Abuse Regime for Cryptoassets (MARC) framework. Split, supply, price-rule, registration in materialne informacije o Lana Discount treasury acquisition capacity se ponovno klasificirajo za UK price-sensitive/inside-information and market-abuse controls. EU MiCA P16 log se lahko ponovno uporabi kot evidence, ne pa kot pravna zamenjava za UK rules. ### 20. UK Legal Responsibility Record Za vsako UK-facing function se v Annex G zapiše najmanj: entity and incorporation country; UK presence; UK consumer target; service; counterparty; fiat owner/flow; crypto owner/custody; current MLR status; financial-promotion route; PSR/payment status; post-2027 permission map; UK data controller; AML/MLRO responsibility; complaints/FOS status; competent authority; effective date and next review date. ### 21. Default UK architecture Regulatorno najčistejši target model je ločitev funkcij, ne umetno podvajanje licenc. EU proprietary treasury functions ostanejo pri subjektu, ki dejansko trguje za lasten račun; UK P08 access se najprej testira pod current MLR territorial rules in nato pod final future proprietary-trading exclusion. Samo funkcije, ki po substance ostanejo UK regulated, se dodelijo ustrezno authorised UK entityju. Tehnični Lana/Nostr/Registrar layers ostanejo interoperabilni, vendar ne premikajo pravne odgovornosti med subjekti. ### 22. Activation status P22 je READY kot UK regulatory architecture. Current cross-border P08 access iz overseas entity je CONDITIONAL na current MLR territorial/business record in applicable promotion route. UK-established current crypto-for-money business ostane CONDITIONAL na MLR analysis. Post-25-October-2027 Lana Discount proprietary dealing je CONDITIONAL na final Article 9UA / RAO / FCA perimeter re-check: če final exclusion velja za dejanski no-client-service flow, FCA dealing permission se ne predpostavlja; če ne velja, je launch HOLD brez potrebne authorisation/transition basis. UK Mode B ostaja ločen CONDITIONAL/HOLD payment+crypto function. UK KYC production ostaja CONDITIONAL na UK MLR/UK GDPR validation, kadar entity postane obliged business.