Banking agencies issue joint crypto-asset safekeeping risk-management statement
Regulation · · Ketju Research
What changed
The federal banking agencies jointly described risk-management considerations for banks that safeguard crypto assets, including key management, due diligence, governance, legal and compliance risks, audit, resilience, and third-party arrangements.
Who it affects
- Banks providing crypto-asset safekeeping, investment advisers relying on bank custodians, funds, and advisory clients
What is still open
- How individual agencies and examiners will apply the principles to particular custody structures
What it means for an advisor
- Refresh custodian diligence and contractual controls for private keys, subcustody, segregation, incident response, auditability, and asset recovery.
Sources
- Banking agencies issue joint crypto-asset safekeeping risk-management statement · Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; Office of the Comptroller of the Currency ·
Version 1, published . Educational analysis, not legal advice.