ESMA launches CSA on CASP digital operational resilience for custody
ESMA launched a Common Supervisory Action assessing digital operational resilience of Crypto-Asset Service Providers, focused on custody services.
The CSA will evaluate the maturity of CASPs' operational resilience frameworks under MiCA/DORA, targeting custody. NCAs will scrutinise ICT governance, incident management, and safeguarding of client crypto assets, likely driving remediation actions across the sector.
Signals intensified EU supervisory focus on CASP resilience, custody safeguards, and DORA compliance.
Action Required
Assess CASP custody DORA readiness, ICT risk frameworks, and third-party arrangements ahead of NCA supervisory engagement.
Coordinated EU supervisory action on crypto custody resilience is a strategic priority under MiCA and DORA.
Review CASP custody operations for DORA alignment: ICT risk management, incident reporting, third-party oversight, and segregation of client assets. Prepare evidence for potential NCA information requests under the CSA.
“ESMA is launching a CSA focusing on the digital operational resilience of Crypto-Asset Service Providers, with specific emphasis on custody services.”