Swiss Association Introduces Cryptocurrency Storage Standard

The Swiss Association of Capital Markets and Technology (CMTA) has explained the main differences between the storage of fiat funds and digital assets.

According to the compilers, the published document is necessary, since the storage of digital assets requires clear explanations regarding safety and operating measures. Digital storage is different from traditional assets. So, the control of digital tools is ensured by using private keys, that is, information in electronic form, used for cryptographic protection and verification of transactions issued in the corresponding infrastructure of a distributed book.

In addition, the Standard contains basic requirements and recommendations for the necessary measures for generating, storing and restoring keys in a safe way.

Add, CMTA was created in Geneva in 2018 to facilitate the implementation of distributed ledger technology and the development of digital assets in the financial markets.