Definition ∞ Fiduciary Duty denotes a legal obligation requiring one party to act solely in the best interest of another party, typically involving matters of money or property. This responsibility demands loyalty, care, and utmost good faith from the fiduciary. In the digital asset sector, this duty becomes particularly relevant for custodians, asset managers, and platforms handling client funds. It establishes a high standard of conduct to protect client interests against potential conflicts.
Context ∞ The imposition of fiduciary duty on cryptocurrency exchanges and asset managers is a central theme in current regulatory discussions globally. News often covers legal actions or policy proposals aimed at clarifying the scope of fiduciary duty for digital asset service providers. Market participants are increasingly seeking services from entities that explicitly acknowledge and adhere to such duties, enhancing trust.
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