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Hong Kong SFC Tightens Custody Standards for Crypto Exchanges Under ASPIRe Roadmap
14 Articles
14 Articles
Hong Kong SFC Tightens Custody Standards for Crypto Exchanges Under ASPIRe Roadmap
Hong Kong’s securities watchdog rolled out new custody requirements for licensed crypto exchanges, reinforcing its pledge to protect client assets as the city advances its bid to become Asia’s digital asset hub.In a circular issued Friday, the Securities and Futures Commission (SFC) set minimum standards for licensed virtual asset trading platforms (VATPs) covering senior management responsibility, cold wallet operations, the use of third-party …
Hong Kong Regulator Imposes Stricter Crypto Custody Rules Amid Global Security Concerns
Hong Kong's SFC issued immediate custody standards for VATPs, addressing key areas like cold wallets and cyber threat monitoring. A recent SFC review found weak cybersecurity controls in some platforms, amid rising global crypto-related security breaches. A new licensing regime for stablecoin issuers launched on August 1, aligning with Hong Kong’s broader digital asset strategy. Hong Kong’s financial regulator has introduced new custody rules fo…
Hong Kong Reacts To Global Crypto Hacks: SFC Sets Stricter Exchange Custody Rules - Coin Surges
Hong Kong’s Securities and Futures Commission (SFC) has rolled out stricter custody rules for licensed crypto exchanges to protect user assets. Hong Kong SFC’s Crypto Custody Overhaul Targets Wallet Weakness In a website announcement, the Hong Kong SFC revealed a new circular addressing minimum custody requirements for all licensed virtual asset trading platforms (VATPs). The document touches on a variety of topics like cold wallet management an…
The new standards of the Hong Kong regulator cover the responsibilities of cold wallet infrastructure, third-party wallet monitoring and real-time threat monitoring. *** Hong Kong Regulator publishes new standards for cryptocurrencies custody. It covers aspects such as cold wallets, third-party wallet monitoring and real-time monitoring. The rules prohibit smart contracts in cold wallets. The goal is to protect customers from cyber threats and p…
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