Custody Agreement Terms are the specific conditions and stipulations within a legal contract outlining the safekeeping of digital assets by a third-party custodian. These terms define responsibilities for security, access, insurance, and liability. They also detail fees, withdrawal procedures, and circumstances under which assets may be moved. Clear terms are crucial for client protection and operational clarity.
Context
As institutional participation in digital assets grows, the clarity and robustness of custody agreement terms have become paramount. News reports often discuss the standards for institutional-grade custody solutions and the legal protections they offer. Debates persist regarding self-custody versus third-party custody and the regulatory oversight required for each model.
The SEC Staff's no-action relief provides a critical, compliant pathway for Registered Investment Advisers to custody client digital assets via state-chartered trusts.
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