Crypto-Asset Regulation · glossary
The record a custodian keeps in each client's name, showing the crypto-assets held, their quantity, the wallet address and every movement in or out. A balance in the app is a line in this register, not a token on the ledger. It proves what each client owns. Binder §4.4 · Chapter 1 · Chapter 5
Explained in Chapter 1, What a Crypto-Asset Is, and Why the State Cares, of Crypto-Asset Regulation.
That balance is not on the ledger. It is a line in Halcyon's own books, the register of positions, which records what each client owns (Article 75). The tokens themselves sit on the ledger, at addresses that Halcyon controls.Read Chapter 1, What a Crypto-Asset Is, and Why the State Cares →
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