What are the legal considerations for custody of crypto assets?

3 answers

• ParwandJul 11, 2020 · 5 years ago
  When it comes to the custody of crypto assets, there are several legal considerations that need to be taken into account. Firstly, it is important to comply with the regulations and requirements set by the relevant authorities in your jurisdiction. This may include obtaining licenses or registrations, implementing security measures, and adhering to anti-money laundering (AML) and know your customer (KYC) policies. Additionally, it is crucial to have proper legal agreements in place with your clients or customers to define the terms and conditions of custody. It is also important to regularly review and update your custody practices to ensure compliance with any changes in the legal landscape.
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• Stanley MuiruriSep 30, 2023 · 2 years ago
  Custody of crypto assets is a complex legal matter that requires careful consideration. It is essential to understand the legal requirements and regulations in your jurisdiction to ensure compliance. This may include obtaining licenses, implementing robust security measures, and adhering to AML and KYC policies. Additionally, it is crucial to have clear legal agreements in place with your clients or customers to establish the rights and responsibilities of both parties. Regularly reviewing and updating your custody practices is also important to stay up-to-date with any changes in the legal framework.
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• Kruse EllegaardAug 26, 2021 · 4 years ago
  When it comes to the legal considerations for custody of crypto assets, it is important to ensure compliance with the regulations and requirements set by the relevant authorities. This includes obtaining the necessary licenses, implementing robust security measures, and following AML and KYC policies. It is also crucial to have proper legal agreements in place to define the terms and conditions of custody. Regularly reviewing and updating your custody practices is essential to stay in line with any changes in the legal landscape. At BYDFi, we prioritize legal compliance and work closely with regulatory bodies to ensure the highest standards of custody for our clients' crypto assets.
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