Under the notice, the requirement to hold a VASP licence in accordance with Part III of the LCF Law is disapplied and the following do not require a licence under Part III of the LCF Law:
I. Persons who make investments, hold, or trade, in virtual assets for their own benefit. Note that this disapplication will not apply to persons, or persons within groups, offering products or services related to virtual assets.
II. Licensees, who hold a licence under the Regulation of Fiduciaries Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020, in the course of providing administration or management services, as services offered under that licence, to VASPs which either hold a Part III VASP licence issued under the LCF Law or are exempt under (I).
III. Licensees, who hold a licence under the Protection of Investors (Bailiwick of Guernsey) Law, 2020, in the course of providing administration or management services, as services offered under that licence, to VASPs which either hold a Part III VASP licence issued under the LCF Law or are exempt under (I).
IV. Licensees, who hold a licence under the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, in the course of providing administration or management services, as services offered under that licence, to VASPs which either hold a Part III VASP licence issued under the LCF Law or are exempt under (I).
V. Authorised or Registered Collective Investment Schemes investing, holding, or trading in virtual assets