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

Jin10 data reported on August 15 that the Hong Kong Securities and Futures Commission today issued a circular to all licensed virtual asset trading platforms, clarifying its requirements for the robust custody of clients' 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 listed several good practice examples and the minimum standards that operators of virtual asset trading platforms should meet, covering the responsibilities of senior management, the infrastructure and operation of clients' Cold Wallets, the application of third-party Wallets, as well as real-time threat monitoring. In the future, these standards will also become core regulatory requirements for virtual asset custodians and help promote the establishment of an effective virtual asset custody framework in the industry.