Hong Kong's Securities and Futures Commission Clarifies Robust Custodial Standards to Safeguard Customer Virtual Assets

BlockBeats News, August 15th, Today, the Hong Kong Securities and Futures Commission issued a circular to all licensed virtual asset trading platforms, clarifying its requirements for secure custody of client virtual assets, laying a solid foundation for the industry to adopt more advanced custody technology in a systematic manner under the ASPIRe roadmap.

In the latest circular, the Commission cited several examples of good practices and minimum standards that virtual asset trading platform operators should meet, covering the responsibilities of senior management, the infrastructure and operation of client cold wallets, the use of third-party wallets, and real-time threat monitoring, among other aspects. In the future, these standards will also become the core regulatory requirements for virtual asset custodians and help drive the industry to establish an effective virtual asset custody framework. (Golden Finance)