The Hong Kong Securities and Futures Commission clarifies robust custody standards for virtual asset trading platforms to ensure the security of clients' virtual assets

ChainCatcher news, the Hong Kong Securities and Futures Commission today issued a circular to all licensed virtual asset trading platforms, clarifying its requirements for robust custody of customer virtual assets, laying a solid foundation for the industry to gradually adopt more advanced custody technologies under the ASPIRe roadmap.

In the latest circular, the Commission enumerated several good operating practices and minimum standards that virtual asset trading platform operators should meet, covering aspects such as the responsibilities of senior management, the infrastructure and operation of customer cold wallets, the use of third-party wallets, and real-time threat monitoring. In the future, these standards will also become core regulatory requirements for virtual asset custodians and will help promote the establishment of an effective virtual asset custody framework in the industry. (Jin Shi)