Does the MiCA Regulation in the EU Address Crypto Custody Standards?
Yes, the Markets in Crypto-Assets (MiCA) regulation in the European Union sets forth comprehensive rules for crypto-asset service providers (CASPs), including those offering custody and administration of crypto-assets. It mandates specific organizational, operational, and security requirements, including capital requirements and professional liability insurance, to ensure a high level of consumer protection and market integrity.
Glossar
Mica Regulation
Regulatory Framework ⎊ Mica Regulation refers to the comprehensive legislative act passed by the European Union establishing a harmonized regulatory framework for crypto-assets not already covered by existing financial services legislation, such as MiFID II.
Crypto-Asset Service Providers
Custody ⎊ Crypto-Asset Service Providers (CASPs) fundamentally address the secure storage and management of digital assets, a critical function given the inherent risks of private key compromise and theft.