Definition ∞ A custody legal framework comprises the set of laws, regulations, and industry standards governing the holding and safekeeping of assets on behalf of others. For digital assets, this framework addresses the unique challenges of cryptographic security, private key management, and ownership verification. It aims to protect asset owners from theft, loss, and unauthorized access.
Context ∞ The development of a robust custody legal framework for digital assets remains a primary focus for regulators and financial institutions globally. Key debates center on defining the legal status of various digital assets and establishing clear responsibilities for custodians. A critical future development involves the harmonization of international custody standards and the integration of advanced cryptographic solutions for enhanced asset protection and compliance.
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