An Authorized Person is an individual or entity granted official permission to perform specific actions or access particular information. In financial contexts, this designation permits operations on behalf of an institution or client. This authorization ensures compliance with regulatory frameworks and internal governance policies, limiting access and responsibility to designated parties.
Context
The role of an authorized person is frequently discussed in crypto news concerning regulatory compliance, particularly regarding digital asset custody and trading platforms. Regulators often require clear definitions and controls for authorized personnel to mitigate risks such as fraud and unauthorized access to funds. Future developments may involve enhanced digital identity solutions for managing such permissions.
The UK’s integration of crypto exchanges and stablecoin issuance into the FSMA framework mandates immediate operationalizing of new conduct and prudential controls.
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