Question: Which statement about custody, responsibility, and control continuum for assets is NOT correct? Traditional financial institutions maintain custody of their customers' assets, which means they


Which statement about custody, responsibility, and control continuum for assets is NOT correct? Traditional financial institutions maintain custody of their customers' assets, which means they also have responsibility and control of those assets on behalf of their customers. Owning cryptocurrency is only having custody of the assets, but not having the corresponding responsibility and control of those assets. only having custody of the assets, but not having the corresponding responsibility and control of those assets. True custody happens only when the owner holds the private key of a fully decentralized cryptocurrency like bitcoin. Permissioned blockchains and centralized exchanges fall in the middle of the custody, responsibility, and control for assets continuum
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
