Regulation 12

in Section I, in paragraph A, replace sub‑paragraphs (1) and (2) with — “1.the: a)name, address, jurisdiction(s) of residence, TIN(s) and date and place of birth (in the case of an individual) of each Reportable Person that is an Account Holder of the account and whether the Account Holder has provided a valid self‑certification; b)in the case of any Entity that is an Account Holder and that, after application of the due diligence procedures consistent with Sections V, VI and VII, is identified as having one or more Controlling Persons that is a Reportable Person, the name, address, jurisdiction(s) of residence and TIN(s) of the Entity and the name, address, jurisdiction(s) of residence, TIN(s) and date and place of birth of each Reportable Person, as well as the role(s) by virtue of which each Reportable Person is a Controlling Person of the Entity and whether a valid self‑certification has been provided for each Reportable Person; and c)whether the account is a joint account, including the number of joint Account Holders. 2.the account number (or functional equivalent in the absence of an account number), the type of account and whether the account is a Preexisting Account or a New Account;”;

in Section I, in paragraph A(6), delete “and” at the end;

in Section I, in paragraph A, after sub‑paragraph (6), insert — “6bis.in the case of any Equity Interest held in an Investment Entity that is a legal arrangement, the role(s) by virtue of which the Reportable Person is an Equity Interest holder; and”;

in Section I, in paragraph C, replace “as Reportable Accounts.” with “as Reportable Accounts and whenever it is required to update the information relating to the Preexisting Account pursuant to domestic AML/KYC Procedures.”;

in Section I, after paragraph F, insert — “G.Notwithstanding subparagraph A(5)(b) and unless the Reporting Financial Institution elects otherwise with respect to any clearly identified group of accounts, the gross proceeds from the sale or redemption of a Financial Asset are not required to be reported to the extent such gross proceeds from the sale or redemption of such Financial Asset are reported by the Reporting Financial Institution under the Crypto‑Asset Reporting Framework.”;

in Section VI, in paragraph A(2)(b), replace “AML/KYC Procedures.” with “AML/KYC Procedures, provided that such procedures are consistent with the 2012 FATF Recommendations. If the Reporting Financial Institution is not legally required to apply AML/KYC Procedures that are consistent with the 2012 FATF Recommendations, it must apply substantially similar procedures for the purpose of determining the Controlling Persons.”;

in Section VII, after paragraph A, insert — “Abis.Temporary lack of Self‑Certification. In exceptional circumstances where a self‑certification cannot be obtained by a Reporting Financial Institution in respect of a New Account in time to meet its due diligence and reporting obligations with respect to the reporting period during which the account was opened, the Reporting Financial Institution must apply the due diligence procedures for Preexisting Accounts, until such self‑certification is obtained and validated.”;

in Section VIII, in paragraph A, replace sub‑paragraph (5) with — “5.The term “Depository Institution” means any Entity that: a)accepts deposits in the ordinary course of a banking or similar business; or b)holds Specified Electronic Money Products or Central Bank Digital Currencies for the benefit of customers.”;

in Section VIII, in paragraph A(6)(a)(iii), replace “or money” with “, money, or Relevant Crypto‑Assets”;

in Section VIII, in paragraph A(6)(b), after “Financial Assets”, insert “or Relevant Crypto‑Assets”;

in Section VIII, in paragraph A(6), after “trading in Financial Assets”, insert “or Relevant Crypto‑Assets”;

in Section VIII, in paragraph A(6), after “in existence.”, insert “For the purposes of subparagraph A(6)(a)(iii), the term “otherwise investing, administering, or managing Financial Assets, money, or Relevant Crypto‑Assets on behalf of other persons” does not include the provision of services effectuating Exchange Transactions for or on behalf of customers.”;

in Section VIII, in paragraph A(7), after “in a security,”, insert “Relevant Crypto‑Asset,”;

in Section VIII, in paragraph A, after sub‑paragraph (8), insert — “9.The term “Specified Electronic Money Product” means any product that is: a)a digital representation of a single Fiat Currency; b)issued on receipt of funds for the purpose of making payment transactions; c)represented by a claim on the issuer denominated in the same Fiat Currency; d)accepted in payment by a natural or legal person other than the issuer; and e)by virtue of regulatory requirements to which the issuer is subject, redeemable at any time and at par value for the same Fiat Currency upon request of the holder of the product. The term “Specified Electronic Money Product” does not include a product created for the sole purpose of facilitating the transfer of funds from a customer to another person pursuant to instructions of the customer. A product is not created for the sole purpose of facilitating the transfer of funds if, in the ordinary course of business of the transferring Entity, either the funds connected with such product are held longer than 60 days after receipt of instructions to facilitate the transfer, or, if no instructions are received, the funds connected with such product are held longer than 60 days after receipt of the funds. 10.The term “Central Bank Digital Currency” means any digital Fiat Currency issued by a Central Bank. 11.The term “Fiat Currency” means the official currency of a jurisdiction, issued by a jurisdiction or by a jurisdiction’s designated Central Bank or monetary authority, as represented by physical banknotes or coins or by money in different digital forms, including bank reserves and Central Bank Digital Currencies. The term also includes commercial bank money and electronic money products (including Specified Electronic Money Products). 12.The term “Crypto‑Asset” means a digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions. 13.The term “Relevant Crypto‑Asset” means any Crypto‑Asset that is not a Central Bank Digital Currency, a Specified Electronic Money Product or any Crypto‑Asset for which the Reporting Crypto‑Asset Service Provider has adequately determined that it cannot be used for payment or investment purposes. 14.The term “Exchange Transaction” means any: a)exchange between Relevant Crypto‑Assets and Fiat Currencies; and b)exchange between one or more forms of Relevant Crypto‑Assets.”;

in Section VIII, in paragraph B(1), replace sub‑paragraph (a) with — “a)a Governmental Entity, International Organisation or Central Bank, other than: i)with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution; or ii)with respect to the activity of maintaining Central Bank Digital Currencies for Account Holders which are not Financial Institutions, Governmental Entities, International Organisations or Central Banks.”;

in Section VIII, in paragraph B(1)(d), delete “or” at the end;

in Section VIII, in paragraph B(1)(e), replace the full‑stop at the end with “; or”;

in Section VIII, in paragraph B(1), after sub‑paragraph (e), insert — “f)a Qualified Non‑Profit Entity.”;

in Section VIII, in paragraph B, after sub‑paragraph (9), insert — “10.The term “Qualified Non‑Profit Entity” means an Entity resident in [Jurisdiction] that has obtained confirmation by the tax administration [or other governmental authority] of [Jurisdiction] that such Entity meets all of the following conditions: i)it is established and operated in [Jurisdiction] exclusively for religious, charitable, scientific, artistic, cultural, athletic, or educational purposes; or it is established and operated in [Jurisdiction] and it is a professional organisation, business league, chamber of commerce, labour organisation, agricultural or horticultural organisation, civic league or an organisation operated exclusively for the promotion of social welfare; ii)it is exempt from income tax in [Jurisdiction]; iii)it has no shareholders or members who have a proprietary or beneficial interest in its income or assets; iv)the applicable laws of [Jurisdiction] or the Entity’s formation documents do not permit any income or assets of the Entity to be distributed to, or applied for the benefit of, a private person or a noncharitable Entity other than pursuant to the conduct of the Entity’s charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the Entity has purchased; and v)the applicable laws of [Jurisdiction] or the Entity’s formation documents require that, upon the Entity’s liquidation or dissolution, all of its assets be distributed to a Governmental Entity or other Entity that meets the conditions set out in i) to v), or escheat to the government of [Jurisdiction] or any political subdivision thereof.”;

in Section VIII, in paragraph C, replace sub‑paragraph (2) with — “2.The term “Depository Account” includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Depository Institution. A Depository Account also includes: a)an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest therein; b)an account or notional account that represents all Specified Electronic Money Products held for the benefit of a customer; and c)an account that holds one or more Central Bank Digital Currencies for the benefit of a customer.”;

in Section VIII, in paragraph C(9), after “as of [xx/xx/xxxx]”, insert “or, if the account is treated as a Financial Account solely by virtue of the amendments to the Common Reporting Standard, as of [effective date of the revised CRS‑1 day]”;

in Section VIII, in paragraph C(10), after “after [xx/xx/xxxx]”, insert “or, if the account is treated as a Financial Account solely by virtue of the amendments to the Common Reporting Standard, on or after [effective date of the revised CRS]”;

in Section VIII, in paragraph C(17)(e), after sub‑paragraph (iv), insert — “v)a foundation or capital increase of a company provided that the account satisfies the following requirements: i)the account is used exclusively to deposit capital that is to be used for the purpose of the foundation or capital increase of a company, as prescribed by law; ii)any amounts held in the account are blocked until the Reporting Financial Institution obtains an independent confirmation regarding the foundation or capital increase; iii)the account is closed or transformed into an account in the name of the company after the foundation or capital increase; iv)any repayments resulting from a failed foundation or capital increase, net of service provider and similar fees, are made solely to the persons who contributed the amounts; and v) the account has not been established more than 12 months ago.”;

in Section VIII, in paragraph C(17), after sub‑paragraph (e), insert — “ebis)A Depository Account that represents all Specified Electronic Money Products held for the benefit of a customer, if the rolling average 90 day end‑of‑day aggregate account balance or value during any period of 90 consecutive days did not exceed USD 10,000 at any day during the calendar year or other appropriate reporting period.”;

in Section VIII, in paragraph D(2), replace “a corporation” wherever it appears with “an Entity”;

in Section VIII, in paragraph D(2), replace “any corporation” with “any Entity”;