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Recital 2

Recital 2

(2)In providing their services, crypto-asset service providers may use a distributed ledger over which they have no control, including a permissionless distributed ledger. In that case, they may not be capable of ensuring the regularity and continuity of their services when disruptions are caused by problems that are inherent to the operation of such distributed ledgers. To mitigate market volatility that may have an adverse impact on clients affected by such disruptions, crypto-asset service providers should include in their business continuity policy measures for timely communication with clients and other external stakeholders. Such communication should include essential and timely information for clients on such disruptions, including ongoing status updates, until the disruption is resolved and services are resumed. Where information on the status of the permissionless distributed ledger responsible for a service disruption is not readily available to the crypto-asset service provider, that crypto-asset service provider should communicate updates to clients and other stakeholders, including competent authorities, on a best effort basis to ensure that clients and stakeholders have as comprehensive information as possible on such disruptions.

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