A digital asset service is any operation or offering that involves the management, transfer, or exchange of cryptocurrencies and other digital tokens. This broad category includes activities such as custodial services for securing digital assets, trading platforms for buying and selling, lending and borrowing protocols, and payment processing solutions. Providers of these services act as intermediaries, enabling users to interact with the digital asset ecosystem. The scope and regulatory standing of these services are continuously evolving.
Context
The state of digital asset services is currently characterized by rapid innovation alongside increasing regulatory scrutiny worldwide. A key discussion involves defining appropriate legal frameworks for various service types to ensure consumer protection and market integrity. Critical future developments include the expansion of institutional-grade services and greater clarity on global regulatory harmonization.
The tokenization of fiat deposits on a permissioned ledger delivers T+0 internal liquidity, significantly enhancing capital velocity and reducing operational float.
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