The Austria Financial Market Authority has published a new edition of its consumer information series on the safe custody of crypto assets, explaining the main storage options and the trade-offs between them. The update focuses on how wallets work, the difference between online and offline solutions, and the role of access keys in controlling crypto assets. It sets out the core choice for consumers between self-custody, which preserves full control but places all responsibility on the holder, and using a regulated crypto-asset service provider. Against the backdrop of the European Union's Markets in Crypto-Assets Regulation, the authority notes that custody and administration services for clients now sit within a harmonized framework for crypto-asset service providers across Europe. Consumers who use a regulated provider can rely on legally defined requirements for security, organization and risk management, while those holding assets themselves face the risk that lost or compromised access credentials may make recovery impossible. The note also highlights basic security measures consumers should consider regardless of the custody model, with a focus on losses stemming from user error, weak data backup or cyberattacks.

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