What Regulatory Frameworks Govern Third-Party Crypto Custodians in Major Financial Jurisdictions?

In the US, some crypto custodians operate under state trust company charters or banking licenses, like the OCC's national trust bank charter, which subjects them to traditional banking regulations. In Europe, the MiCA (Markets in Crypto-Assets) regulation is establishing a unified framework.

Globally, standards from the Financial Action Task Force (FATF) also impact custody, particularly regarding Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance.