Article 722-4 into force from 23 September 2021 to 29 July 2023

Before providing the service of custody of digital assets on behalf of third parties, the digital assets custodian shall sign a written agreement with its client on a durable medium within the meaning of Article 314-5, defining the operating principles of the digital assets custody service and identifying the respective rights and obligations of the parties. It shall include the following information in particular:

1. The identity of the person or persons with which the agreement is established:

   a) in the case of a legal person, the procedures for informing the services provider of the name of the person(s) authorised to act in the name of said legal person; and

   b) in the case of an individual, his capacity, where applicable, as a French resident, a resident of a State which is a party to the European Economic Area agreement or a resident of a third country, and also, where applicable, the identity of the person(s) authorised to act in the name of such individual.

2. the nature and precise description of the services provided;

3. the conditions under which the custodian services provider may send information relating to the events mentioned in Article 722-1 4° and, where applicable, the restrictions imposed by the initiator of the event;

4. the security systems associated with the assets held in custody by the custody services provider;

5. the client authentication systems used by the services provider;

6. the price scale for the services provided by the custody services provider;

7. the period of validity of the agreement; and

8. the law applicable to the agreement ;

9. If the agreement provides for the right for the asset custodian to use the digital assets of its clients, a clause to this effect shall be inserted in the agreement. The service provider shall also obtain the explicit consent of its client in a separate document from the written agreement, which shall be stored on a durable medium.