Crypto custody business

As a result of the Act Implementing the Amending Directive to the Fourth EU Anti-Money Laundering Directive (Federal Law Gazette I dated 19 December 2019, p. 2602), crypto custody business was included in the German Banking Act (KWG) as a new financial service.

Pursuant to Section 1 para. 1a sentence 2 no. 6 KWG, crypto custody business comprises the safekeeping, management and protection of crypt assets or private cryptographic keys which serve to hold, store or transfer crypto assets for others.