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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