Tag Archives: Crypto Custody

Digital asset custody compliance analysis, covering custody licenses, private key management, insurance mechanisms, and institutional-grade custody solutions.

Before the Hong Kong VA Custody scheme is officially implemented, what compliance materials can companies prepare in advance?
Before the Hong Kong VA Custody scheme is officially implemented, what compliance materials can companies prepare in advance?

Before the formal implementation of the Hong Kong VA Custody system, companies should prepare more than just a general license list. Instead, they should prepare verifiable materials detailing customer assets, private keys and transfer permissions, asset segregation, reconciliation, incident handling, and outsourcing controls. The specific path to becoming an independent VA Custody still depends on formal legislation and implementing regulations; until then, the internal custody requirements of VATP cannot be directly equated with the eligibility for an independent custody license.

25
June
Suspected Data Breach at US-based BitcoinIRA and iTrustCapital: Analysis of Customer Information Protection and Compliance Obligations for Crypto IRA Platforms
Suspected Data Breach at US-based BitcoinIRA and iTrustCapital: Analysis of Customer Information Protection and Compliance Obligations for Crypto IRA Platforms

On August 24, 2026, blockchain detective ZachXBT disclosed that the US-based crypto IRA platforms BitcoinIRA and iTrustCapital were suspected of experiencing a data breach this year, which neither party publicly disclosed. The leaked data included user information, holdings, and bank and custody information. If true, both platforms will trigger [further action/actions].

25
June
Pakistan VASP Licenses: PVARA sets a September 5th registration deadline; 11 types of licenses under the Virtual Assets Act are now in effect.
Pakistan VASP Licenses: PVARA sets a September 5th registration deadline; 11 types of licenses under the Virtual Assets Act are now in effect.

Pakistan's PVARA has opened its licensing portal. Transitional entities already operating before March 5, 2026, must apply for a certificate of no objection by September 5, or they will have to cease operations. The Virtual Assets Act 2026 establishes 11 types of licenses, requiring locally registered companies, paid-up capital, suitability testing, and anti-money laundering systems. Offshore exchanges must establish local subsidiaries to renew their licenses.

25
June
The U.S. OCC has conditionally approved World Liberty's national trust bank license, and the USD1 stablecoin is proposed to be subject to federal regulation.
The U.S. OCC has conditionally approved World Liberty's national trust bank license, and the USD1 stablecoin is proposed to be subject to federal regulation.

On August 14, 2026, the U.S. OCC issued conditional preliminary approval for a nationwide trust banking license to World Liberty Trust Company, proposing to set a price of USD1...

24
June
A Hybrid Investment Tool for US Real Estate and Bitcoin: A Securities and Custody Compliance Analysis of Cardone Capital's 350 BTC Allocation
A Hybrid Investment Tool for US Real Estate and Bitcoin: A Securities and Custody Compliance Analysis of Cardone Capital's 350 BTC Allocation

Cardone Capital, a subsidiary of US real estate investor Grant Cardone, announced the allocation of 350 BTC (approximately $2,230 million) to a real estate project in Fort Lauderdale, Florida, creating a hybrid fund that combines real estate and digital assets. This article analyzes the compliance requirements and disclosure risks of this type of hybrid investment vehicle from the perspectives of US securities law, investment advisor registration, and crypto asset custody licenses.

23
June
Qualified Crypto Custodians under the US GENIUS Act and California DFAL: Licensing, Segregation Obligations, and List of Licensed Institutions
Qualified Crypto Custodians under the US GENIUS Act and California DFAL: Licensing, Segregation Obligations, and List of Licensed Institutions

The U.S. GENIUS Act requires that stablecoin reserves be held in custody by federally or state-regulated financial institutions, prohibiting self-custody, and will take effect on January 18, 2027. California's DFAL will be in effect from July 2026.

23
June
A map and three-tier structure of truly licensed crypto asset custody institutions worldwide in 2026: US, EU, and Singapore licenses.
A map and three-tier structure of truly licensed crypto asset custody institutions worldwide in 2026: US, EU, and Singapore licenses.

Custody is a legal status, not a key architecture: regulation focuses on whether the provider can unilaterally transfer assets outside the client's control, and is unrelated to MPC or multisignature. The market is divided into three tiers—qualified custodians, custody technology, and wallet infrastructure. This article lists the truly licensed crypto asset custodians in 2026 and their regulatory status in the US, EU, and Singapore, and reviews recent license consolidation.

23
June
Illinois, USA: Crypto Industry Alliance Sues Digital Asset Transaction Tax Bill
Illinois, USA: Crypto Industry Alliance Sues Digital Asset Transaction Tax Bill

Following the lawsuit filed by the Digital Chamber of Commerce in July, the Crypto Innovation Council (CCI) and the Blockchain Association have again filed a lawsuit in Sangamon County, Illinois, seeking to block the state's 0.2% digital asset transaction tax bill from taking effect, arguing that it violates the U.S. Constitution, state constitutions, and the Internet Tax Freedom Act. The tax was originally scheduled to take effect on January 1, 2027, and HB 5798 proposes its complete repeal.

22
June
Payward, the parent company of Kraken in the US, plans to apply for a banking license overseas: from Wyoming SPDI to a full-license bank.
Payward, the parent company of Kraken in the US, plans to apply for a banking license overseas: from Wyoming SPDI to a full-license bank.

Dave Ripley, co-CEO of Kraken's parent company Payward, stated at the 2026 Wyoming Blockchain Symposium that they are exploring becoming a full-fledged bank outside the United States, expanding their trading, banking, and asset management businesses. Payward is already operational.

21
June
South Korea | BitGo Korea Receives VASP Registration: First Foreign-Owned Firm to Enter Institutional Crypto Custody Market
BitGo states that its South Korean entity has completed VASP registration: The scope of services and regulatory status should still be verified against the official directory.

BitGo's company announcements can provide details of its self-reported registration progress; the final regulatory status, scope of services, and regulatory requirements still need to be verified item by item against the public records of the competent authorities in South Korea.

20
June
South Korean VASP License: BitGo's South Korean subsidiary received approval from the FIU, becoming the first overseas crypto company to receive direct approval.
BitGo's Korean entity VASP progress: Application, registration, and business approval must be verified separately.

Company announcements can explain the progress of their self-reported VASPs; application acceptance, registration completion, continuous compliance, and specific business operations that can be carried out are not interchangeable.

20
June
A Look at US Digital Asset Custody Licenses: Citigroup's Custody+ Launches Institutional Bitcoin Custody
A Look at US Digital Asset Custody Licenses: Citigroup's Custody+ Launches Institutional Bitcoin Custody

On August 18, 2026, Citi announced that it would offer Bitcoin custody to institutional clients through its Custody+ platform, bringing crypto assets under the same bank custody framework as traditional securities. Citi will manage its own keys and wallets. The service is expected to launch later in 2026 and is still subject to regulatory approvals from the Federal Reserve, the OCC, and other regulators. The SEC withdrew its SAB 121 application.

19
June
Fireblocks, Inc. has appointed former Acting Chairman of the SEC, Roisman, as Chief Regulatory Officer to strengthen its crypto compliance strategy.
Fireblocks, Inc. has appointed former Acting Chairman of the SEC, Roisman, as Chief Regulatory Officer to strengthen its crypto compliance strategy.

On August 17, 2026, Fireblocks appointed former Acting Chairman and Commissioner of the U.S. Securities and Exchange Commission, Elad Roisman, as Chief Regulatory and Policy Officer, responsible for global regulatory strategy and serving as the primary liaison with U.S. and European regulatory agencies. This appointment reflects how institutional crypto infrastructure providers are viewing regulatory capabilities as a core competitive advantage in serving banks, payment institutions, and asset management clients who rely on stablecoins and tokenized assets.

18
June
The Central Bank of Russia plans to include digital currencies in the capital adequacy ratio calculation for securities firms and asset management institutions: a 25% cap, exchange access requirements, and digital custody requirements.
The Central Bank of Russia plans to include digital currencies in the capital adequacy ratio calculation for securities firms and asset management institutions: a 25% cap, exchange access requirements, and digital custody requirements.

俄罗斯央行2026年8月14日发布草案，拟将数字货币纳入券商、资管公司、外汇交易商及加密兑换商的自有资金与资本充足率计算，合格资产须由俄数字存管机构托管且占比不超25%，征询期至8月29日，属9月1日生效加密市场框架法配套细则。

17
June
Knaken, an unlicensed Dutch trading platform, goes bankrupt: failure of customer asset segregation and the boundaries of CASP licenses.
Knaken, an unlicensed Dutch trading platform, goes bankrupt: failure of customer asset segregation and the boundaries of CASP licenses.

Dutch prosecutors seized €220 million in crypto assets from the unlicensed platform Knaken, while clients had invested over €1,000 million. The shortfall stemmed from the lack of segregation of client assets, highlighting the necessity of a CASP license for protecting client assets.

17
June
US Crypto Bank Licenses | Fed Master Account Access Dispute Escalates: Blockchain Association Supports Custodia's Lawsuit Against the Federal Reserve
US Crypto Bank Licenses | Fed Master Account Access Dispute Escalates: Blockchain Association Supports Custodia's Lawsuit Against the Federal Reserve

On August 13, the Blockchain Association filed an amicus brief supporting Custodia Bank's appeal to the Supreme Court regarding the Federal Reserve's refusal to grant it access to its master account. This case, which disputes the Federal Reserve's discretion regarding access to the payment system of a qualified state-chartered bank, raises concerns about the de-banking nature of Choke Point 2.0 and highlights the divergent paths to crypto banking licenses.

15
June
When private key permissions are changed in Hong Kong virtual asset custody, how should the approval process and logs be stored?
When private key permissions are changed in Hong Kong virtual asset custody, how should the approval process and logs be stored?

When private key permissions are changed in Hong Kong virtual asset custody, approval and logs should be saved according to customer asset control events: first record the reason for the change, wallet or address range, permission type and affected customers, then retain the records of initiation, review, approval, execution, rollback and closure, and at the same time save system logs, administrator logs, on-chain hashes, permission matrix version and reconciliation results before and after the change.

12
June
In the Hong Kong VA Custody service, how do you explain cold and hot wallets, approval permissions, and disaster recovery arrangements to regulators?
In the Hong Kong VA Custody service, how do you explain cold and hot wallets, approval permissions, and disaster recovery arrangements to regulators?

When explaining VA Custody to Hong Kong regulators, the focus should not be just on saying that a cold wallet was used, but on clearly explaining the asset stratification, access control, dual approval, independent reconciliation, abnormal freezing, and disaster recovery evidence.

12
June
Does virtual asset custody in Hong Kong require an independent license?
Does virtual asset custody in Hong Kong require an independent license?

Whether a Hong Kong VA Custody needs an independent license depends on the specific circumstances. The client asset custody requirement already exists for licensed VATPs; as of June 2026, the licensing system for independent VA Custodians is still in the legislative process, and specific application arrangements will depend on official legislation, rules, and implementation dates.

10
June
When a family office holds virtual assets, how should internal authorization and custody records be designed?
When a family office holds virtual assets, how should internal authorization and custody records be designed?

When family offices hold virtual assets, internal authorization and custody records should be designed according to the principle of "who controls, who reviews, who approves, who reconciles, and who handles anomalies." At a minimum, there should be wallet and address ledgers, records of private key or recovery material custody, transfer initiation and approval permissions, amount thresholds, dual review, on-chain hash and internal ledger reconciliation, and records of anomaly escalation and incident review. Simply stating that the assets are held by the family office does not equate to the risk being under control.

07
June

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