Article 5 Record-keeping in relation to the safekeeping of clients’ crypto-assets and funds

Crypto-asset service providersmeans 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; shall keep records enabling them to distinguish, at any time and without delay, 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 fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; held for one clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; from 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 fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; held for any other clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; and from their own assets.

Crypto-asset service providersmeans 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; shall maintain their records in a way that ensures that they may be used for auditing purposes as records.

1. records that readily identify the balances 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 fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; held for each clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;;

2. where clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;’ fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; are held by crypto-asset service providersmeans 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; in accordance with Article 70(2) and (3) of Regulation (EU) 2023/1114, details of the accounts in which those fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; are held and the relevant agreements between the crypto-assets 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; with the credit institutionsmeans a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 and authorised under Directive 2013/36/EU; or central banks with which the clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;’ fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; are placed;

3. details of the accounts opened with third parties holding 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; for the crypto-assets 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; and of the outsourcing agreements with those third parties;

4. details of third parties carrying out any tasks outsourced in accordance with Article 73 of Regulation (EU) 2023/1114 and details of the outsourced tasks;

5. names and functions of persons responsible for the safekeeping of clientsmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services;’ 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 fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366; within 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;;

6. agreements that establish clientmeans any natural or legal person to whom a crypto-asset service provider provides crypto-asset services; ownership over 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 fundsmeans funds as defined in Article 4, point (25), of Directive (EU) 2015/2366;.