Crypto Custody Service - Security and Legal Requirements 2025
Crypto custody service is a critical service for the secure storage and management of crypto assets. Law No. 7518 has regulated the requirements for providing custody services for crypto asset service providers. In this guide, we will examine in detail crypto custody services, security measures and legal requirements.
🔐 What is Crypto Custody Service?
Definition
Custody (Custody Service):
The service of securely storing, managing and protecting crypto assets. This service involves users entrusting their crypto assets to a third party (custodian).
Service Scope
Custody service includes:
-
Crypto Asset Storage
- Cold wallet management
- Hot wallet management
- Multi-signature systems
-
Security Management
- Private key management
- Security protocols
- Access control
-
Transaction Management
- Transfer transactions
- Approval processes
- Transaction monitoring
🏛️ Legal Framework
Law No. 7518
SPK Regulation:
Law No. 7518, which came into effect on July 2, 2024, has regulated crypto asset custody service.
Regulation Scope:
- ✅ Crypto asset service providers can provide custody service
- ✅ SPK license is required
- ✅ Customer asset protection is mandatory
- ✅ Segregation system must be established
Customer Asset Protection
Mandatory Measures:
-
Segregation
- Customer assets must be kept separate from company assets
- Must be stored in separate wallets
- Independent accounting records must be kept
-
Security Standards
- Cold wallet infrastructure
- Multi-signature systems
- Physical security measures
-
Insurance Coverage
- Insurance for customer assets
- Cybersecurity insurance
- Errors and omissions insurance
🔒 Wallet Types
1. Cold Wallet
Definition:
Wallets that are not connected to the internet, offline wallets. The safest storage method.
Features:
- ✅ Offline (not connected to internet)
- ✅ High security (low hack risk)
- ✅ Ideal for long-term storage
- ⚠️ Slow access (must be brought online for transactions)
Types:
-
Hardware Wallet
- Ledger Nano S/X
- Trezor
- KeepKey
- Private keys stored on device
-
Paper Wallet
- Private key written on paper
- Stored with QR code
- Physical security is important
-
Offline Computer
- Computer not connected to internet
- Private keys stored here
- Air-gapped system
Use Cases:
- ✅ Long-term investments
- ✅ For large amounts
- ✅ Corporate storage
- ✅ Backup strategy
2. Hot Wallet
Definition:
Online wallets connected to the internet. Used for quick access.
Features:
- ✅ Online (connected to internet)
- ✅ Fast access and transactions
- ✅ Ideal for daily transactions
- ⚠️ Lower security (hack risk)
Types:
-
Web Wallet
- Browser-based
- Online access
- Private keys stored on server
-
Mobile Wallet
- Mobile application
- Fast access
- Private keys stored on device
-
Desktop Wallet
- Computer application
- Private keys stored on computer
- Can be connected to internet
Use Cases:
- ✅ For daily transactions
- ✅ For small amounts
- ✅ For fast transfers
- ⚠️ Not recommended for large amounts
3. Multi-Signature Wallet
Definition:
Wallet system requiring multiple signatures. Provides high security.
Features:
- ✅ Multiple approval required
- ✅ High security (low single point of failure risk)
- ✅ Ideal for corporate use
- ⚠️ Complex management
Use Cases:
- ✅ Corporate storage
- ✅ For large amounts
- ✅ Situations requiring shared management
🛡️ Security Measures
1. Private Key Management
Private Key:
Keys that prove ownership of crypto assets, must be kept secret.
Security Measures:
- ✅ Storage with encryption
- ✅ Multi-signature system
- ✅ Physical security (cold wallet)
- ✅ Backup strategy
- ❌ Never share
2. Physical Security
Cold Wallet Storage:
- ✅ Safe (secure safe)
- ✅ Geographic distribution (in different locations)
- ✅ Access control (limited access)
- ✅ Security cameras
- ✅ Alarm systems
3. Cybersecurity
Online Security:
- ✅ SSL encryption
- ✅ Firewall
- ✅ DDoS protection
- ✅ Penetration tests
- ✅ Security audits
4. Transaction Security
Transfer Approval Processes:
- ✅ Multiple approval requirement
- ✅ Limit control (for large transfers)
- ✅ Whitelist control
- ✅ Time delay
- ✅ Transaction monitoring and alarm
📊 Custody Service Standards
1. Security Standards
Recommended Standards:
- ✅ ISO 27001 (Information Security Management System)
- ✅ SOC 2 Type II (Security Audit)
- ✅ Penetration tests (at least 2 times per year)
- ✅ Security audits (regular)
2. Operational Standards
Business Standards:
- ✅ 24/7 monitoring
- ✅ Disaster recovery plan
- ✅ Backup strategy
- ✅ Business continuity plan
3. Compliance Standards
Legal Compliance:
- ✅ SPK regulations compliance
- ✅ MASAK compliance
- ✅ KVKK compliance
- ✅ Tax compliance
💼 Corporate Custody Solutions
1. Corporate Needs
For corporate customers:
- ✅ High security standards
- ✅ Multi-signature systems
- ✅ 24/7 support
- ✅ Custom solutions
- ✅ Insurance coverage
2. Service Provider Selection
Selection Criteria:
- ✅ Security history (no hack history)
- ✅ Certificates (ISO 27001, SOC 2)
- ✅ Insurance coverage
- ✅ Technical infrastructure
- ✅ Compliance (SPK, MASAK)
- ✅ Customer references
3. Service Agreement
Must Be in Agreement:
- ✅ Service scope
- ✅ Security measures
- ✅ Responsibilities
- ✅ Insurance coverage
- ✅ Pricing
- ✅ Cancellation conditions
⚠️ Risks and Precautions
1. Security Risks
Possible Risks:
- ⚠️ Hack attacks
- ⚠️ Internal threat (insider threat)
- ⚠️ Physical theft
- ⚠️ Private key loss
- ⚠️ Technical errors
Precautions:
- ✅ Cold wallet usage (95%+)
- ✅ Multi-signature system
- ✅ Regular audits
- ✅ Insurance coverage
- ✅ Backup strategy
2. Operational Risks
Possible Risks:
- ⚠️ System failures
- ⚠️ Human error
- ⚠️ Natural disasters
- ⚠️ Technical problems
Precautions:
- ✅ Disaster recovery plan
- ✅ Backup systems
- ✅ Business continuity plan
- ✅ Test processes
3. Legal Risks
Possible Risks:
- ⚠️ Regulation changes
- ⚠️ License cancellation
- ⚠️ Legal problems
Precautions:
- ✅ Legal compliance (SPK, MASAK)
- ✅ Regular regulation tracking
- ✅ Legal consultancy
🎯 Best Practices
1. Security Best Practices
Recommended Practices:
- ✅ 95%+ cold wallet usage
- ✅ Multi-signature system (for large amounts)
- ✅ Regular security audits
- ✅ Penetration tests (2+ times per year)
- ✅ Insurance coverage
2. Operational Best Practices
Recommended Practices:
- ✅ 24/7 monitoring system
- ✅ Automatic backup
- ✅ Disaster recovery plan
- ✅ Personnel training
- ✅ Documentation
3. Compliance Best Practices
Recommended Practices:
- ✅ SPK regulations tracking
- ✅ MASAK compliance
- ✅ KVKK compliance
- ✅ Regular audits
- ✅ Reporting
📞 Professional Support
Get professional support for crypto custody service:
✅ Custody solutions development
✅ Security infrastructure setup
✅ Cold wallet systems
✅ Multi-signature systems
✅ Security audits
Contact:
- 📧 iletisim@cesayazilim.com
- 📞 +90 850 225 53 34
- 💬 WhatsApp: Custody Service
Note: This guide is provided free of charge for informational purposes only. No fees are required to access this content.## Conclusion
Crypto custody service (custody) is a critical service for the secure storage of crypto assets. Important points:
- ✅ Cold wallet usage (95%+)
- ✅ Multi-signature systems
- ✅ SPK regulations compliance
- ✅ Customer asset protection (segregation)
- ✅ Security standards (ISO 27001, SOC 2)
- ✅ Insurance coverage
We are with you for secure custody solutions! 🚀
