Crypto-Asset Regulation · glossary
Comparing two records that should agree and explaining every difference. Every business day, the operations team checks the register of positions against the client wallets on the ledger, and the client funds ledger against the bank statement. A difference unexplained after one business day enters the breach log. Binder §4.7 · Chapter 5 · Chapter 7
Explained in Chapter 5, Custody, Client Money and the Stablecoin Question, of Crypto-Asset Regulation.
Also explained in European Brokerage.
Every business day, the operations team checks the records against each other. This is reconciliation: comparing two records that should agree and explaining every difference. The register is checked against the balance of every client wallet on the ledger. The client funds ledger is checked against the bank statement.Read Chapter 5, Custody, Client Money and the Stablecoin Question →
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