A Qualified Digital Custodian is a regulated financial institution or entity legally authorized and equipped to securely store and manage digital assets on behalf of clients. These custodians adhere to stringent security protocols, regulatory compliance standards, and often possess specialized insurance coverage. They provide institutional-grade asset protection and management services.
Context
The role of qualified digital custodians is a critical topic in crypto news, particularly concerning institutional adoption and regulatory clarity. Their presence is essential for traditional financial firms to participate in the digital asset market, as they address security concerns and compliance requirements for managing significant asset volumes.
Bipartisan Senate draft formalizes CFTC's authority, mandating new registration and systemic compliance frameworks for digital commodity spot market operators.
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