Hong Kong’s Securities and Futures Fee (SFC) has issued new steering for digital asset buying and selling platforms (VATPs), aiming to strengthen consumer asset custody. The transfer responds to international safety incidents and gaps recognized in current native evaluations.
Wu Blockchain reported that the steering kinds a part of the SFC’s ASPIRe roadmap, which outlines steps for superior custody practices.
The Hong Kong SFC issued new steering for digital asset buying and selling platforms to strengthen custody requirements, citing international safety incidents and gaps present in a current overview. The round outlines minimal necessities for pockets infrastructure, entry controls, and administration…
— Wu Blockchain (@WuBlockchain) August 15, 2025
Enhanced Custody Requirements
The SFC’s round specifies minimal necessities for pockets infrastructure, entry controls, and administration oversight. It emphasizes the necessity for VATPs to overview present custody practices and guarantee stronger protections. Dr Eric Yip, Government Director of Intermediaries on the SFC, stated, “Consumer asset safety should at all times stay a prime precedence for all licensed VATPs.”
The steering units requirements for senior administration tasks and operations of consumer chilly wallets. Platforms utilizing third-party pockets options should guarantee ample safety and verification processes. The regulator additionally expects real-time risk monitoring and strict approval machine controls.
Addressing International Cybersecurity Issues
Current abroad instances confirmed a number of digital asset platforms suffered losses on account of custody vulnerabilities. The SFC famous weaknesses together with compromised third-party wallets and inadequate transaction verification. Such incidents reveal the necessity for stricter controls to safeguard consumer funds.
Hong Kong’s overview earlier this 12 months additionally recognized gaps in some operators’ cybersecurity practices. The SFC now requires platforms to strengthen their defenses towards digital threats. This steering goals to enhance resilience and cut back dangers from exterior assaults.
Constructing a Trusted Digital Asset Ecosystem
The up to date requirements beneath the ASPIRe roadmap additionally information future digital asset custodians. These expectations type the core framework for industry-wide custody practices. In response to Dr Yip, platforms can use the steering as a sensible reference to enhance safety and operational procedures.
The SFC emphasizes that dependable custody is important for a sustainable digital asset market. The regulator’s strategy goals to create a safer atmosphere for shoppers. These measures will affect how VATPs handle belongings and handle potential threats.