The Alternative Investment Management Association (AIMA) has published an industry guide on digital asset custody for institutional investors.
It is tasked with driving AIMA’s regulatory engagement, thought-leadership initiatives, and operational guidance in the area of digital assets.
The publication also provides practices and key considerations around due diligence for institutional investors determining how to fulfil their custody requirements for their digital assets.
The guide is the initiative of AIMA’s Digital Assets Working Group, made up of a cross section of around 300 senior industry experts including institutional investors, custodians, exchanges and other service providers.
It has been written by a cross section of practitioners, ranging from technologists and cyber security professionals to legal and compliance teams.
The publication offers advice on cold storage or air-gapped storage options as well as legal and compliance governance, and how to combat anti-money laundering and fraud when considering the custody of digital assets. In addition, it also outlines cyber security and incident planning.
Co-sponsored by ECI and PwC, the guide was produced with contributions from Albourne
Partners, Anchorage Digital, Apex Group, Barclays Investment Bank, Capco, CMS Switzerland, Copper, Dagger Consulting LLC, Digivault, Fidelity Digital Assets, NYDIG, Travers Smith LLP, UI Enlyte, and Zodia Custody.
Commenting on the guide, Jack Inglis, CEO at AIMA, says: “Hedge fund allocations to digital assets continue to gain traction and AIMA is well positioned to assist our members with operational guidance around this growing asset class through our working groups, market research and sound practice guides.”
He adds: “This guide on digital asset custody aims to provide industry guidance and key considerations for institutional investors determining how to custody their digital assets. My thanks to all our members who contributed to making this excellent resource for investors.”
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