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SatoshiShrineRegulatory Observatory
Topic reading set

Custody across saved source records.

31 saved source records are tagged from source title or excerpt text with explicit match provenance.

Custody reading set

Safekeeping, client-asset and custody-service source records.

Topics are another door into the same saved sources, sorted by question instead of country. A source appearing under a topic implies nothing about the rules of any country.

Title I — General provisions

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MiCA Article 3 — held text

Matched: custody, safekeeping, private cryptographic keys, administration of crypto-assets — …‘crypto-asset service’ means any of the following services and activities relating to any crypto-asset: (a) providing custody and administration of crypto-assets on behalf of clients; (b) operation of a trading platform for crypto-assets; (c) exchange of crypto-assets for funds; (d) exchange of crypto-assets for other crypto-assets; (e) execution…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 3; PDF page 15; derived-text line 1048

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Title II — Crypto-assets other than asset-referenced tokens or e-money tokens

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MiCA Article 4 — held text

Matched: custody, administration of crypto-assets — …e-money token. 5. Authorisation as a crypto-asset service provider pursuant to Article 59 is not required for providing custody and administration of crypto-assets on behalf of clients or for providing transfer services for crypto-assets in relation to cryptoassets whose offers to the public are exempt pursuant to paragraph 3 of this Article, unless:…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 4; PDF page 17; derived-text line 1192

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MiCA Article 10 — held text

Matched: custody, administration of crypto-assets — …those offerors shall ensure that the funds or crypto-assets collected during the offer to the public are kept in custody by one or both of the following: (a) a credit institution, where funds are raised during the offer to the public; (b) a crypto-asset service provider providing custody and administration of crypto-assets on behalf of clients.…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 10; PDF page 21; derived-text line 1453

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Title III — Asset-referenced tokens

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MiCA Article 25 — held text

Matched: custody — …arrangements, including reporting lines to the management body and risk management framework; (b) the reserve assets and the custody of the reserve assets; (c) the rights granted to the holders of asset-referenced tokens; (d) the mechanism through which an asset-referenced token is issued and redeemed; (e) the protocols for validating the transactions…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 25; PDF page 30; derived-text line 2009

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MiCA Article 34 — held text

Matched: custody — …implement, in particular, policies and procedures on: (a) the reserve of assets referred to in Article 36; (b) the custody of the reserve assets, including the segregation of assets, as specified in Article 37; (c) the rights granted to the holders of asset-referenced tokens, as specified in Article 39; (d) the mechanism through which asset-referenced…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 34; PDF page 32; derived-text line 2197

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MiCA Article 37 — held text

Matched: custody, safekeeping, private cryptographic keys, administration of crypto-assets — Article 37 Custody of reserve assets 1. Issuers of asset-referenced tokens shall establish, maintain and implement custody policies, procedures and contractual arrangements that ensure at all times that: (a) the reserve assets are not encumbered…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 37; PDF page 36; derived-text line 2443

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MiCA Article 38 — held text

Matched: custody — …concentration risk is minimised. 3. The financial instruments in which the reserve of assets is invested shall be held in custody in accordance with Article 37. 4. All profits or losses, including fluctuations in the value of the financial instruments referred to in paragraph 1, and any counterparty or operational risks that result from the investment…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 38; PDF page 37; derived-text line 2534

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MiCA Article 45 — held text

Matched: custody, administration of crypto-assets — …relax risk standards. 2. Issuers of significant asset-referenced tokens shall ensure that such tokens can be held in custody by different cryptoasset service providers authorised for providing custody and administration of crypto-assets on behalf of clients, including by crypto-asset service providers that do not belong to the same group, as…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 45; PDF page 41; derived-text line 2789

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Title V — Authorisation and operating conditions for crypto-asset service providers

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MiCA Article 60 — held text

Matched: custody, administration of crypto-assets — …authorised under Regulation (EU) No 909/2014 of the European Parliament and of the Council (45) shall only provide custody and administration of crypto-assets on behalf of clients if it notifies the information referred to in paragraph 7 of this Article to the competent authority of the home Member State, at least 40 working days before providing…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 60; PDF page 48; derived-text line 3247

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MiCA Article 62 — held text

Matched: custody, administration of crypto-assets — …provider’s complaints-handling procedures; (m) where the applicant crypto-asset service provider intends to provide custody and administration of crypto-assets on behalf of clients, a description of the custody and administration policy; (n) where the applicant crypto-asset service provider intends to operate a trading platform for crypto-assets,…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 62; PDF page 50; derived-text line 3395

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MiCA Article 70 — held text

Matched: safekeeping — Article 70 Safekeeping of clients’ crypto-assets and funds 1. Crypto-asset service providers that hold crypto-assets belonging to clients or the means of access to such crypto-assets shall make adequate arrangements to safeguard the ownership…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 70; PDF page 56; derived-text line 3754

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MiCA Article 75 — held text

Matched: custody, safekeeping, administration of crypto-assets — Article 75 Providing custody and administration of crypto-assets on behalf of clients 1. Crypto-asset service providers providing custody and administration of crypto-assets on behalf of clients shall conclude an agreement with their clients to specify…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 75; PDF page 57; derived-text line 3862

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MiCA Article 78 — held text

Matched: custody — …into account factors of price, costs, speed, likelihood of execution and settlement, size, nature, conditions of custody of the crypto-assets or any other consideration relevant to the execution of the order. Notwithstanding the first subparagraph, crypto-asset service providers executing orders for crypto-assets on behalf of clients shall…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 78; PDF page 60; derived-text line 4044

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Title VII — Competent authorities, EBA and ESMA

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MiCA Article 119 — held text

Matched: custody, administration of crypto-assets — …authorities of the most relevant crypto-asset service providers, credit institutions or investment firms ensuring the custody of the reserve assets in accordance with Article 37 or of the funds received in exchange of the significant e-money tokens; (e) where applicable, the competent authorities of the most relevant trading platforms for crypto-assets…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 119; PDF page 79; derived-text line 5306

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MiCA Article 122 — held text

Matched: custody, administration of crypto-assets — …contractual arrangement; (c) a crypto-asset service provider, credit institution or investment firm ensuring the custody of the reserve assets in accordance with Article 37; (d) an issuer of a significant e-money token or a person controlling or being directly or indirectly controlled by an issuer of a significant e-money token; (e) a payment…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 122; PDF page 81; derived-text line 5453

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MiCA Article 125 — held text

Matched: custody, administration of crypto-assets — …contractual arrangement; (c) a crypto-asset service provider, credit institution or investment firm ensuring the custody of the reserve assets in accordance with Article 37; (d) an issuer of a significant e-money token or a person controlling or being directly or indirectly controlled by an issuer of a significant e-money token; (e) a payment…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Article 125; PDF page 83; derived-text line 5596

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Other saved source records

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MiCA Annex II — held text

Matched: custody, administration of crypto-assets — …invested and, where applicable, a description of the investment policy for those reserve assets; 5. A description of the custody arrangements for the reserve assets, including their segregation, and the name of cryptoasset service providers providing custody and administration of crypto-assets on behalf of clients, credit institutions or investment…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Annex II; PDF page 96; derived-text line 6691

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MiCA Annex IV — held text

Matched: custody, administration of crypto-assets — …Crypto-asset service provider authorised for any crypto-asset services under class 1 and: EUR 125 000 —providing custody and administration of crypto-assets on behalf of clients; —exchange of crypto-assets for funds; and/or —exchange of crypto-assets for other crypto-assets. Class 3 Crypto-asset service provider authorised for any crypto-asset…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Annex IV; PDF page 99; derived-text line 7132

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MiCA Annex V — held text

Matched: custody, administration of crypto-assets — …date of notification to EBA. 55. The issuer infringes Article 37(1) by not establishing, maintaining or implementing custody policies, procedures and contractual arrangements that ensure at all times that the conditions listed in the first subparagraph, points (a) to (e), of that paragraph are met. 56. The issuer infringes Article 37(2) by not…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Annex V; PDF page 100; derived-text line 7179

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MiCA Annex VI — held text

Matched: custody, administration of crypto-assets — …date of notification to EBA. 18. The issuer infringes Article 37(1) by not establishing, maintaining or implementing custody policies, procedures and contractual arrangements that ensure at all times that the conditions listed in the first subparagraph, points (a) to (e), of that paragraph are met. 19. The issuer infringes Article 37(2) by not…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Annex VI; PDF page 108; derived-text line 7572

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MiCA Recital (4) — preamble

Matched: custody, administration of crypto-assets — …trading platforms for crypto-assets, the exchange of cryptoassets for funds or other crypto-assets, and providing custody and administration of crypto-assets on behalf of clients.  The absence of such rules leaves holders of those crypto-assets exposed to risks, in particular in fields not covered by consumer protection rules. The absence…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (4); PDF page 1; derived-text line 73

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MiCA Recital (21) — preamble

Matched: custody, administration of crypto-assets — …operation of a trading platform for crypto-assets, exchanging crypto-assets for funds or other crypto-assets, providing custody and administration of crypto-assets on behalf of clients, and providing transfer services for crypto-assets on behalf of clients. A second category of such services consists of the placing of crypto-assets, the reception…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (21); PDF page 4; derived-text line 249

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MiCA Recital (47) — preamble

Matched: custody — …should include information on the stabilisation mechanism, on the investment policy of the reserve assets, on the custody arrangements for the reserve assets and on the rights provided to holders. 

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (47); PDF page 6; derived-text line 432

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MiCA Recital (52) — preamble

Matched: custody — …ensuring the stabilisation mechanism and the investment of the reserve assets backing the value of the tokens, the custody of such reserve assets and, where applicable, the distribution of the asset-referenced tokens to the public.

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (52); PDF page 7; derived-text line 466

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MiCA Recital (55) — preamble

Matched: custody — …asset-referenced tokens and to preserve the value of those assets, issuers of assetreferenced tokens should have an adequate custody policy for their reserve assets. That policy should ensure that the reserve assets are fully segregated from the issuer’s own assets at all times, that the reserve assets are not encumbered or pledged as collateral, and…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (55); PDF page 7; derived-text line 490

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MiCA Recital (71) — preamble

Matched: custody — …requirements that apply to issuers of asset-referenced tokens with regard to reserve of assets, such as those on custody and investment of the reserve of assets. Those requirements for issuers of significant e-money tokens should apply instead of Articles 5 and 7 of Directive 2009/110/EC. As those provisions of Directive 2009/110/EC do not…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (71); PDF page 9; derived-text line 596

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MiCA Recital (83) — preamble

Matched: custody, administration of crypto-assets — …providers should be subject to requirements specific to those services. Crypto-asset service providers providing custody and administration of crypto-assets on behalf of clients should conclude an agreement with their clients with certain mandatory provisions and should establish and implement a custody policy, which should be made available…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (83); PDF page 10; derived-text line 688

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MiCA Recital (90) — preamble

Matched: custody, administration of crypto-assets — (90) Some crypto-asset services, in particular providing custody and administration of crypto-assets on behalf of clients, the placing of crypto-assets, and transfer services for crypto-assets on behalf of clients, might overlap with payment services as defined in Directive (EU) 2015/2366.

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (90); PDF page 11; derived-text line 757

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MiCA Recital (91) — preamble

Matched: custody — …electronic money to their clients to manage an e-money token might not be distinguishable from the activity of providing custody and administration services as regulated by this Regulation. Electronic money institutions should therefore be able to provide custody services, without prior authorisation under this Regulation to provide crypto-asset…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (91); PDF page 11; derived-text line 760

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MiCA Recital (93) — preamble

Matched: custody, administration of crypto-assets — …providers also offer some kind of transfer service for crypto-assets as part of, for example, the service of providing custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds or other crypto-assets, or execution of orders for crypto-assets on behalf of clients. Depending on the precise features of…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (93); PDF page 11; derived-text line 769

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MiCA Recital (105) — preamble

Matched: custody — …trading, and the competent authorities of the most relevant entities and crypto-asset service providers ensuring the custody and administration of the significant asset-referenced tokens and of significant e-money tokens on behalf of holders. The college of supervisors for issuers of significant asset-referenced tokens and of significant e-money…

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023R1114.pdf · sha256 32c6d21e712dbb719a9a6b2d39e85133f3059d9e02d8d9ce70d35332bd568b8b · saved and fingerprinted 20260823T093000Z · Recital (105); PDF page 12; derived-text line 834

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