Safekeeping Protocols are the established procedures and technical standards implemented to protect digital assets from theft, loss, or unauthorized access. These protocols encompass cryptographic security measures, multi-signature requirements, hardware security modules, and robust access control systems. Their purpose is to ensure the integrity and availability of digital asset holdings for individuals and institutions alike.
Context
The evolution of safekeeping protocols is a critical area of development and news coverage in the digital asset industry, particularly as institutional adoption increases. Reports often highlight advancements in cold storage solutions, secure multi-party computation, and decentralized custody methods. The ongoing discussion focuses on enhancing the security posture of digital asset custodians and individual holders against increasingly sophisticated cyber threats and operational risks.
The SEC's no-action relief operationalizes institutional digital asset custody by clarifying the "qualified custodian" status for state-chartered trust companies.
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