Hong Kong Securities and Futures Transactions Commission (SFC) has published a new directive to strengthen licensed crypto currency platforms on the storage of customer assets. The regulator published today that many events abroad revealed weaknesses and leads to serious losses in customer assets. emphasized. SFC, some of the targeted examination made at the beginning of the year Crypto Money PlatformsHe also found that there are deficiencies in controls against cyber threats.
SFC’s new expectations and control areas
SFCIn the directive he presented today, he detailed the responsibilities of the top management of crypto currency platforms, the framework of the cold wallet infrastructure, the supervision of third -party wallet services and to follow real -time threats. Regulatory Authority requested that licensed virtual asset trading platforms (VATP) critically review the practices of storage. The aim is to provide measurable discipline in the protection of customer assets.
The requirements defined in the regulatory directive are not only for existing VATPs, but Crypto Money Storage Organizations also stated that it is also valid. The directive is expected to contribute to the formation of an effective storage infrastructure throughout the sector. The rules in the directive are valid as of today.
In his announcement of the SFC, he gave the message directly and stated that the management of crypto currency platforms can be accountable, the storage architecture should be strong, the continuous inspection on external service providers and the threats should be monitored instantly. Although the rules are wide, the language is quite clear.
In the background, the increase in global security violations in July appears to be effective. According to Peckshield, security violations of hacking reached $ 142 million in July. Thus, the losses due to hack increased by 27 percent compared to June. SFC is just focused on closing the gap by looking at this table.
Hong Kong’s location on crypto currency
Mainland in China crypto currency While the line of purchase and sale and the prohibition of mining is preserved, Hong Kong is moving on a different route. Regional aims to attract businesses with the licensing directive for exchanges. A separate license regime entered into force on 1 August 2025 and stablecoin Exporters were also included.
The region wants to mature the institutional infrastructure through regulations. The SFC’s new storage directive is the concrete leg of this road map. As trust increases, participation in the market is expected to grow on the regular ground.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
