Cyprus Securities and Exchange Commission to review crypto custodians between H2 2026 and H1 2027
2026-08-09 07:38
Odaily Planet Daily News: The Cyprus Securities and Exchange Commission (CySEC) will conduct on-site inspections and off-site reviews of authorized crypto asset service providers between the second half of 2026 and the first half of 2027, with institutions offering digital asset custody services among those randomly selected for inspection.
This initiative is part of the 2026 Common Supervisory Action coordinated by the European Securities and Markets Authority (ESMA), focusing on assessing institutional governance and control frameworks, key and storage management, private key security, wallet storage, and access control.
The review will also cover trading controls, monitoring and incident response, smart contract security, and third-party risk management. CySEC stated that the relevant standards are mandatory requirements, and institutions' compliance preparedness will be used as a basis for selecting entities for subsequent inspections.
This initiative is part of the 2026 Common Supervisory Action coordinated by the European Securities and Markets Authority (ESMA), focusing on assessing institutional governance and control frameworks, key and storage management, private key security, wallet storage, and access control.
The review will also cover trading controls, monitoring and incident response, smart contract security, and third-party risk management. CySEC stated that the relevant standards are mandatory requirements, and institutions' compliance preparedness will be used as a basis for selecting entities for subsequent inspections.
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