Hong Kong Monetary Authority issues guidelines for companies providing cryptocurrency custody services
The Hong Kong Monetary Authority (HKMA) has issued guidelines stating that in order to ensure that the digital assets held by recognized institutions are fully protected and the risks involved are properly managed, it is necessary for the regulator to provide guidance on the provision of digital asset custody services by recognized institutions. Referring to international standards and practices, the HKMA has set out expected standards (including governance and risk management, segregation of customer digital assets, protection of customer digital assets, delegation and outsourcing, etc.) to provide recognized institutions with flexibility in arranging operations that are appropriate to the nature, characteristics and risks of custody of digital assets. Recognized institutions should apply these standards to protect customers' digital assets, whether they are received as intermediaries in virtual asset (VA) related activities, distributed tokenized products, or provided as independent custody services.
In addition to the expected standards specified in the attachment, recognized institutions providing digital asset custody services should also comply with all applicable laws and regulatory requirements. If the authorized institution itself or its affiliated institution (locally registered recognized institution) intends to provide digital asset custody services, it should discuss with the HKMA in advance and prove that it meets the expected standards and requirements set out in this circular. Recognized institutions or subsidiaries of locally registered recognized institutions that are already engaged in digital asset custody activities should review and modify their systems and control measures as needed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








