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The unique and complex considerations of digital asset custody

Author

Listed:
  • Walker, Richard

    (Principal, Deloitte Consulting, USA)

  • Massey, Rob

    (Global Tax Leader of Blockchain and Digital Assets, Partner Deloitte Tax, USA)

  • Steele, Amy

    (Partner at National Office, Deloitte & Touche, USA)

  • Welmans, Tyler

    (UK Blockchain Practice Lead, Deloitte, UK)

  • Robinson, Michelle

    (Director of Tax Policy Group, Deloitte, UK)

  • Mourtil, Elana

    (Managing Director, Northeast Financial Tax Practice of Deloitte Tax, USA)

  • Marzelli, Michael

    (Audit and Assurance Partner, Deloitte & Touche, USA)

  • Strauss, Linards

    (Managing Director, Deloitte & Touche, USA)

  • Calaquian, Pamela

    (Senior Manager, Deloitte Transactions Business Analytics, USA)

  • Schulhof, Ken

    (Partner at Financial Services Group, Deloitte Tax, USA)

Abstract

Digital assets as an asset class has matured with increasing rates of adoption among retail and institutional investors. As custodians engage, they are facing unique complexities across many regulatory bodies, new varieties of audit and controls considerations and evolving risk frameworks. There are also opportunities for custodians to add new services, such as lending, staking and trading. Per Deloitte’s 2020 Blockchain Survey, 94 per cent of banking and capital markets executives said that they believe that digital assets will be at least somewhat important in the next three years. This paper explores various considerations for custodians of digital assets as explained from the various leaders within Deloitte’s digital asset practice.

Suggested Citation

  • Walker, Richard & Massey, Rob & Steele, Amy & Welmans, Tyler & Robinson, Michelle & Mourtil, Elana & Marzelli, Michael & Strauss, Linards & Calaquian, Pamela & Schulhof, Ken, 2021. "The unique and complex considerations of digital asset custody," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 13(2), pages 150-162, March.
    • Handle: RePEc:aza:jsoc00:y:2021:v:13:i:2:p:150-162
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    More about this item

    Keywords

    digital assets; custody and cryptocurrency;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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