1.For the purposes of Article 62(2), point (k), of Regulation (EU) 2023/1114, applicants that intend to hold crypto-assets belonging to clients or the means of access to such crypto-assets, or clients’ funds, other than e-money tokens, shall provide to the competent authority a detailed description of their procedures for the segregation of clients’ crypto assets and funds, including all of the following:
c)how the applicant segregates clients’ crypto-assets, including from other clients’ crypto-assets where wallets contain crypto-assets of more than one client (omnibus accounts);
d)a description of the procedure ensuring that clients’ funds, other than e-money tokens, are deposited with a central bank or a credit institution by the end of the business day following the day on which those funds were received and held in an account separately identifiable from any accounts used to hold funds belonging to the applicant;
e)where the applicant does not intend to deposit funds with the relevant central bank, which factors the applicant takes into account to select the credit institutions with which to deposit clients’ funds, including the applicant’s diversification policy, where available, and the frequency of review of the selection of credit institutions with which to deposit clients’ funds;
f)how the applicant ensures that clients are informed in clear, concise and non-technical language about the key aspects of the applicant’s systems, policies and procedures to comply with Article 70(1), (2) and (3) of Regulation (EU) 2023/1114.\
2.In accordance with Article 70(5) of Regulation (EU) 2023/1114, crypto-asset service providers that are electronic money institutions or payment institutions shall only provide the information referred to in paragraph 1 of this Article in relation to the segregation of clients’ crypto-assets.