The Hong Kong securities watchdog has deployed new custody requirements for the exchanges of approved crypto, strengthening its commitment to protect the assets of customers while the City is advancing its attempt to become the Digital Asset Center in Asia.
In a circular published on Friday, the Securities and Futures Commission (SFC) Define minimum standards for virtual active ingredient trading platforms (Vatps) Covering responsibility for senior management, cold portfolio operations, the use of third -party portfolio solutions and threat monitoring in real time.
This decision comes after the targeted examination of the regulator earlier this year has found “shortcomings” in certain cybersecurity and custody of current exchanges. The guidelines also constitute the basis of the expectations of virtual asset guards.
By cutting the expansion of products with hard rules on the protection of assets, Hong Kong seeks to differentiate itself from the Singapore regional rival, which has adopted a more restrictive position on the services of Crypto de retail.
The announcement is directly linked to the pillars of the infrastructure and safeguards the pillars of the SFC aspire strategy, unveiled in February at the 2025 consensus from Coindesk to Hong Kong, which describes a five -strict plan to approach the fragmentation of liquidity, regulatory arbitration and market volatility while extending the beach of regulated products and services.
Guarding of the guard follows a series of regulatory movements this year aimed at expanding market access while tightening surveillance.
In February, the regulator announced new license plans for free -free negotiation and custody services, in parallel with an examination of derivatives and trading of margins against virtual assets. In April, it was Green-Léclair of ignition services for exchanges and approved funds, although in strict requirement and risk disclosure requirements.
