| 1. |
VASPs providing Staking from Custody Services must comply with Rule III.A.3 of this Custody Services Rulebook, and continue to act only on explicit instructions received from their clients throughout the provision of such services, including when they are required to vote or otherwise participate in the governance of any DLT on behalf of their clients. |
| 2. |
If a VASP wishes to obtain and rely on any pre-authorised instruction from a client, the VASP must consider all reasonably foreseeable circumstances where such instruction is likely to be used by the VASP as authorisation, and the VASP must communicate all such circumstances clearly to the client, prior to the client providing such instruction. All pre-authorised instructions sought or obtained by a VASP must be sufficiently detailed, accurate and relevant for the client to understand both the circumstances in, and actions for which such instructions will be relied upon by the VASP. |
| 3. |
Staking from Custody Services cannot be provided on an ‘opt-out’ basis, and the activity may only be initiated after the VASP has received a client’s specific instruction to do so. |