Secondary legislation refers to laws and regulations made by government ministers or other authorized bodies under powers granted by primary legislation (Acts of Parliament). These legal instruments provide detailed rules and procedures necessary for the practical implementation of broader statutory provisions. They are essential for adapting general laws to specific circumstances or technical advancements. Such legislation is crucial for the operational aspects of regulatory frameworks.
Context
Secondary legislation is a critical component in the ongoing regulatory development for digital assets, providing the granular detail needed to apply existing laws or new statutes to this evolving sector. Discussions often address the speed and flexibility of secondary legislation in responding to rapid technological changes compared to the slower pace of primary lawmaking. Future developments will likely involve a series of secondary legislative instruments to clarify specific requirements for digital asset service providers, particularly concerning consumer protection and market oversight.
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