Record-keeping of the crypto-asset service provider’s policies and procedures
1. Crypto-asset service providers shall keep records of any policies and procedures they are required to maintain in writing under Regulation (EU) 2023/1114 and its implementing measures.
2. Crypto-asset service providers shall also keep the records of the assessment and periodical review, carried out by their management body, of the effectiveness of the policy arrangements, and procedures referred to in Articles 68(6) of Regulation (EU) 2023/1114, including of any deficiencies identified in relation to such policy arrangements and procedures and of any measures taken to address such deficiencies.
Record-keeping of documents setting out the crypto-asset service provider’s and the client’s rights and obligations
1. Crypto-asset service providers shall keep the documents setting out their rights and obligations in relation to their provision of service, as well as those setting out the rights and obligations of their clients for a period of five years from the termination of the agreement to provide services.
2. At the request of a competent authority, made before the expiry of the five-year period referred to in paragraph 1, crypto-asset service providers shall keep the documents referred to in paragraph 1 for a period of up to seven years from the date of termination of the agreement to provide crypto-asset services.
Record-keeping in relation to the safekeeping of clients’ crypto-assets and funds
1. Crypto-asset service providers shall keep records enabling them to distinguish, at any time and without delay, crypto-assets and funds held for one client from crypto-assets and funds held for any other client and from their own assets.
2. Crypto-asset service providers shall maintain their records in a way that ensures that they may be used for auditing purposes as records.
3. Such records shall include the following:
(a)
records that readily identify the balances of crypto-assets and funds held for each client;
(b)
where clients’ funds are held by crypto-asset service providers in accordance with Article 70(2) and (3) of Regulation (EU) 2023/1114, details of the accounts in which those funds are held and the relevant agreements between the crypto-assets service provider with the credit institutions or central banks with which the clients’ funds are placed;
(c)
details of the accounts opened with third parties holding crypto-assets for the crypto-assets service provider and of the outsourcing agreements with those third parties;
(d)
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;
(e)
names and functions of persons responsible for the safekeeping of clients’ crypto-assets and funds within the crypto-asset service provider;
(f)
agreements that establish client ownership over crypto-assets and funds.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
