Hong Kong Securities and Futures Commission issues letter to licensed virtual asset trading platforms requiring secure custody of virtual assets.

According to the Wiseinvestment APP, on August 15th, the Hong Kong Securities and Futures Commission issued a circular to all licensed virtual asset trading platforms, clarifying its requirements for the safe custody of client virtual assets and urging virtual asset trading platforms to strictly review and strengthen their asset custody measures. The Hong Kong Securities and Futures Commission explained that there have been several incidents of virtual asset custody breaches overseas recently, and when the Commission conducted a targeted review of the cybersecurity measures of trading platforms earlier this year, it also found deficiencies in the monitoring measures of some operators.