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Assessing the Solvency of Virtual Asset Service Providers: Are Current Standards Sufficient?
April 19, 2024, 4:11 a.m. | Pietro Saggese, Esther Segalla, Michael Sigmund, Burkhard Raunig, Felix Zangerl, Bernhard Haslhofer
cs.CR updates on arXiv.org arxiv.org
Abstract: Entities like centralized cryptocurrency exchanges fall under the business category of virtual asset service providers (VASPs). As any other enterprise, they can become insolvent. VASPs enable the exchange, custody, and transfer of cryptoassets organized in wallets across distributed ledger technologies (DLTs). Despite the public availability of DLT transactions, the cryptoasset holdings of VASPs are not yet subject to systematic auditing procedures. In this paper, we propose an approach to assess the solvency of a VASP …
arxiv asset business can cryptocurrency cs.cr current custody distributed distributed ledger enable enterprise entities exchange exchanges ledger q-fin.gn service service providers standards technologies the exchange transfer under virtual wallets
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