Hong Kong Securities and Futures Commission Issues Custody Standards Guidelines for Virtual Asset Platforms

According to news from HashKey Group, the Hong Kong Securities and Futures Commission today issued a notice to all licensed virtual asset trading platforms, clarifying the requirements for the robust custody of customer virtual assets. In the latest circular, the Commission outlined several good operating practices and the minimum standards that virtual asset trading platform operators must meet, covering areas 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.