TechFlow, August 15 — According to Jinshi Data, the Hong Kong Securities and Futures Commission (SFC) today issued a circular to all licensed virtual asset trading platforms, clarifying its requirements for robust custody of clients' virtual assets, laying a solid foundation under the ASPIRe roadmap for the industry's phased adoption of more advanced custody technologies. In the latest circular, the SFC outlined various best practice examples and minimum standards that virtual asset trading platform operators should meet, covering senior management responsibilities, infrastructure and operations of clients' cold wallets, use of third-party wallets, and real-time threat monitoring. Going forward, these standards will also become core regulatory requirements for virtual asset custodians and help drive the industry to establish an effective virtual asset custody framework.
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