Art. 12 Custody and administration policy | RTS on CASP authorisation | MiCA

For the purposes of Article 62(2), point (m), of Regulation (EU) 2023/1114, applicants that intend to provide custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; on behalf of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; shall provide to the competent authoritymeans one or more authorities:designated by each Member State in accordance with Article 93 concerning offerors, persons seeking admission to trading of crypto-assets other than asset-referenced tokens and e-money tokens, issuers of asset-referenced tokens, or crypto-asset service providers;designated by each Member State for the application of Directive 2009/110/EC concerning issuers of e-money tokens; all of the following information:

a description of the arrangements linked to the type of custody offered to clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;, a copy of the applicant’s standard agreement for the custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; on behalf of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; pursuant to Article 75(1) of Regulation (EU) 2023/1114and a copy of the summary of the custody policy made available to clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; in accordance with Article 75(3) of Regulation (EU) 2023/1114;
the applicant’s custody and administration policy, including a description of identified sources of operational and ICT risks for the safekeeping and control of the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; or the means of access to the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;, together with a description of:
1. the policies and procedures and a description of the arrangements to comply with Article 75(8) of Regulation (EU) 2023/1114;
2. the policies and procedures, and a description of the systems and controls to manage operational and ICT risks, including where the custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; on behalf of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; is outsourced to a third party;
3. the policies and procedures relating to, and a description of, the systems ensuring the exercise of the rights attached to the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; by the clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;;
4. the procedures and a description of the systems ensuring the return of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; or the means of access to the clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;;
information on how the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; and the means of access to the crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; of the clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; are identified;
information on arrangements to minimise the risk of loss of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; or of means of access to crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology;;
where the crypto-asset service providermeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59; has delegated the provision of custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; on behalf of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; to a third-party:
1. information on the identity of any third-party providing the custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; and its status in accordance with Article 59 or Article 60 of Regulation (EU) 2023/1114;
2. a description of any functions relating to the custody and administration of crypto-assetsmeans a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology; delegated by the crypto-asset service providermeans a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59;, the list of any delegates and sub-delegates, as applicable, and any conflicts of interest that could arise from such a delegation;
3. a description of how the applicant intends to supervise the delegations or sub-delegations.