We understand it can be difficult for market participants to be completely sure whether or not their business models require authorisation. This is particularly true in a fast-evolving market like cryptoassets. The Guidance should act as a first step for market participants to understand whether authorisation is required and should be read in conjunction with PERG. Where market participants are unsure and require regulatory feedback, Innovate support functions such as the Sandbox or Direct Support can provide this help for requests that meet the eligibility criteria for support. Market participants should also consider obtaining appropriate external advice.