Definition ∞ A custody services agreement is a formal contract between a digital asset owner and a custodian, detailing the terms under which the custodian will hold and manage the owner’s assets. This agreement specifies responsibilities for security, access, and asset transfers. It provides a legal framework for the safekeeping of digital holdings.
Context ∞ The situation surrounding custody services agreements in the crypto sector often involves discussions about the level of security offered and the legal protections afforded to clients. A critical future development involves the standardization of these agreements to account for evolving blockchain technology and varying regulatory requirements across different jurisdictions.
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