Article 75: Providing custody and administration of crypto-assets on behalf of clients
agent:eu:mica:art-75 · sha256 bce144dc9ff8f23b
Turnover framework under the act
The act sets no turnover framework. Penalties are laid down by the Member States.
Affected roles
Not in the register yet.
Affected industries
banking
Obligations
Not in the register yet.
Article text
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 their duties and their responsibilities. Such an agreement shall include at least the following:
(a)
the identity of the parties to the agreement;
(b)
the nature of the crypto-asset service provided and a description of that service;
(c)
the custody policy;
(d)
the means of communication between the crypto-asset service provider and the client, including the client’s authentication system;
(e)
a description of the security systems used by the crypto-asset service provider;
(f)
the fees, costs and charges applied by the crypto-asset service provider;
(g)
Machine-readable formThe article in the registerChangesSource: NovaCopilot