The unique and complex considerations of digital asset custody

Richard Walker, Rob Massey, Amy Steele, Tyler Welmans, Michelle Robinson, Elana Mourtil, Michael Marzelli, Linards Strauss, Pamela Calaquian and Ken Schulhof
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Richard Walker: Principal, Deloitte Consulting, USA
Rob Massey: Global Tax Leader of Blockchain and Digital Assets, Partner Deloitte Tax, USA
Amy Steele: Partner at National Office, Deloitte & Touche, USA
Tyler Welmans: UK Blockchain Practice Lead, Deloitte, UK
Michelle Robinson: Director of Tax Policy Group, Deloitte, UK
Elana Mourtil: Managing Director, Northeast Financial Tax Practice of Deloitte Tax, USA
Michael Marzelli: Audit and Assurance Partner, Deloitte & Touche, USA
Linards Strauss: Managing Director, Deloitte & Touche, USA
Pamela Calaquian: Senior Manager, Deloitte Transactions Business Analytics, USA
Ken Schulhof: Partner at Financial Services Group, Deloitte Tax, USA

Journal of Securities Operations & Custody, 2021, vol. 13, issue 2, 150-162

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.

Keywords: digital assets; custody and cryptocurrency (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2021
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