Cryptoasset custody standards are established guidelines for the secure storage and management of digital assets. These standards address the technical, operational, and security requirements for safeguarding private keys and protecting cryptoassets from theft, loss, or unauthorized access. They often include multi-signature protocols, hardware security modules, robust access controls, and regular audits. Adherence to these standards is vital for institutions and individuals holding significant digital asset value.
Context
Cryptoasset custody standards are currently under rapid development, driven by increasing institutional demand and regulatory expectations for secure asset handling. A key discussion concerns the balance between security and accessibility, and the varying levels of compliance required across different jurisdictions. A critical future development involves the harmonization of global custody standards to provide clarity and consistency for market participants.
The FCA's proposed framework mandates full stablecoin backing and asset segregation, fundamentally resetting UK operational and reserve requirements for issuers.
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