The Securities and Futures Commission (SFC) of Hong Kong has issued a circular, mandating that all licensed virtual asset trading platforms adhere to stringent custody standards for their clients' virtual assets. These comprehensive standards encompass several key measures, including the accountability of senior management, the establishment of robust client cold wallet infrastructure, the regulation of third-party wallet usage, and the implementation of real-time threat monitoring systems. The ultimate objective is to foster the development of an efficient and secure virtual asset custody framework within the industry.
