Licensees must assess the risks posed to each storage method in view of the new developments in security threats, technology and market conditions and must implement appropriate storage solutions to ensure the secure storage of crypto-assets held on behalf of clients. Wallet storage technology and any upgrades should be tested comprehensively before deployment to ensure reliability. A licensee must implement and must ensure that its third-party crypto-asset custodian implements, measures to deal with any compromise or suspected compromise of all or part of any seed or private key without undue delay, including the transfer of all client crypto-assets to a new storage location as appropriate.
