Investment firm licensees undertaking the regulated investment service involving safe custody of crypto-assets (custody service), whether through “in house” arrangement or through a “third party”, remain responsible for safeguarding, storing, holding or maintaining custody of crypto-assets and must have systems and controls in place to:
(a) Ensure the proper safeguarding of crypto-assets;
(b) Ensure that such safe custody of crypto-assets is identifiable and secure at all times; and
(c) Ensure protection against the risk of loss, theft or hacking.
Added: January 2024
