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Hong Kong Regulator Tightens Crypto Asset Security Measures
Hong Kong Regulator Tightens Crypto Asset Security Measures
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BTCCSquare news:
Hong Kong's Securities and Futures Commission (SFC) has issued stringent new guidelines for licensed cryptocurrency platforms, mandating enhanced safeguards for customer assets. The move follows global incidents exposing security vulnerabilities and a local review revealing cybersecurity gaps in digital asset custodianship.
The directive outlines specific requirements for cold wallet infrastructure, third-party service oversight, and real-time threat monitoring. It applies retroactively to existing VIRTUAL asset trading platforms (VATPs) and custodians, signaling Hong Kong's commitment to establishing itself as a regulated crypto hub amid growing institutional interest in BTC, ETH, and other major digital assets.
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