Under SF 125, banks providing custodial services are required to maintain exclusive control over customers’ digital asset securities and have no claim or any property rights in such assets. Digital assets under the bank’s control do not become a depository liability or an asset of the bank. Rather, they are the subject of a bailment under various conditions designed to protect the consumer, similar to that which exists when you drop off your dry cleaning or leave your car with valet parking. Additionally, customers elect whether their digital assets are to be held in fungible or non-fungible form and, in either ... (full story)