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Hong Kong’s Securities and Futures Commission (SFC) has introduced stricter custody requirements for virtual asset trading platforms. The new rules aim to enhance security and trust in the region’s digital asset ecosystem.
- New SFC rules require cold wallets, whitelisting, and third-party audits for crypto platforms.
- Licensing for standalone custodians is under consideration, with higher fees and expedited approvals.
- The regulations respond to global cybersecurity breaches and aim to bolster Hong Kong’s crypto ecosystem.
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