What is the difference between a trustee and a custodian in the context of digital currencies?

3 answers

• Miller Roofing and RenovationsJul 19, 2020 · 6 years ago
  A trustee in the context of digital currencies refers to a person or entity that holds legal ownership of the assets on behalf of others. They have a fiduciary duty to act in the best interests of the beneficiaries. On the other hand, a custodian is responsible for the safekeeping and management of the assets, but does not have legal ownership. They are typically appointed by the trustee to carry out the day-to-day operations of asset management.
  450

  225
• PlafkopOct 27, 2021 · 4 years ago
  When it comes to digital currencies, a trustee is like the legal owner of the assets, while a custodian is more like a caretaker. The trustee has the authority to make decisions regarding the assets, while the custodian is responsible for their safekeeping. Think of it as the trustee being the boss and the custodian being the employee who takes care of the assets.
  366

  122
• jokmokNov 23, 2020 · 5 years ago
  In the context of digital currencies, a trustee is the one who has legal ownership and control over the assets, while a custodian is responsible for the physical or digital storage and security of the assets. The trustee makes decisions regarding the assets, while the custodian ensures their safety. It's like the trustee is the captain of the ship, and the custodian is the one who keeps the ship safe and secure.
  415

  104