Want to keep exchanges like Celsius from seizing your money? Be a ‘custody client’ By Cointelegraph
[ad_1]
Want to keep exchanges like Celsius from seizing your money? Be a ‘custody client’Disgraced cryptocurrency lender Celsius Network asked a court this month to return assets to its “custody clients,” but not to its “earn-and-borrow” customers. Wondering how to keep yourself in the former group when the crypto exchange you’re using goes under? Here’s a summary.
What exactly is a “custody client?” It’s similar in principle to a savings account with a traditional bank — often repayable upon demand by the custodian. In this case, it’s Celsius that has a fiduciary responsibility.
Continue Reading on Coin Telegraph
[ad_2]
Source link
Want to keep exchanges like Celsius from seizing your money? Be a ‘custody client’Disgraced cryptocurrency lender Celsius Network asked a court this month to return assets to its “custody clients,” but not to its “earn-and-borrow” customers. Wondering how to keep yourself in the former group when the crypto exchange you’re using goes under? Here’s a summary.
What exactly is a “custody client?” It’s similar in principle to a savings account with a traditional bank — often repayable upon demand by the custodian. In this case, it’s Celsius that has a fiduciary responsibility.
Continue Reading on Coin Telegraph
About The Author
