Activity
Virtual Assets Custody Services
Activity Code
6920011
Activity Group
Banks, Finance & Credit Group
License Type
Commercial
Activity Description
Includes firms engaged in safekeeping Virtual Assets for, or on behalf of, another Entity and acting only on verified instructions from on behalf of such Entity and All VASPs shall be subject to Rules regarding the storage and custody of clients’ Virtual Assets. Only VASPs which segregate each client’s assets in separate VA Wallets will qualify for a Custody Services Licence.
Approval
The approval of the Virtual Assets Regulatory Authority is required after issuing the initial approval and after issuing the license.