The Securities and Futures Commission (SFC) of Hong Kong has rolled out stricter custody rules for recognized crypto fairs to protect user assets.
Hong Kong SFC’s Crypto Guardianship Revision focuses on wallet weakness
On a website announcementThe Hong Kong SFC revealed a new circular to tackling minimal custody requirements for all licensed virtual assets trading platforms (BATPs). The document affects a variety of topics such as cold wallet management and real -time threat monitoring, and also contains examples of good practices.
The SFC has placed these standards in response to overseas cyber security incidents that have uncovered vulnerabilities in the portfolio management systems of crypto exchanges. According to a hacking report, the industry alone lost $ 3.1 billion in attacks in the first half of 2025.
The Hong Kong regulator also carried out a targeted assessment earlier this year to test BTats against similar vulnerabilities. “Although most platform operators reported that they had fundamental control measures, certain answers were considered insufficient,” noted the circular.
BatPs are not the only ones who are expected to meet the requirements in today’s document release. The same standards also apply to virtual owners of Asset, and the SFC remarks These guidelines will serve as the requirements for the transition to more advanced guardianship technologies.
Dr. Eric Yip, executive director of intermediaries at SFC, said:
In order to promote Hong Kong a competitive, sustainable and trusted digital assets ecosystem, the protection of client assets must always remain a top priority for all the licensed BATPs that can use the practical guide of the SFC to perform their custody practices, especially in increased risks worldwide.
The relocation has followed other regulatory efforts of Hong Kong to present itself as a crypto-friendly. In May, the Stablecoin Bill of the city approved the legislative power and took action at the beginning of this month.
Big names such as Standard Chartered in his joint venture have been drawn up to request a Stablecoin license under this rule. However, according to reports, the first series of approvals will not be expected to be until 2026.
Bitcoin Price went under $ 118,000
The number one crypto, Bitcoin, took a blow on Thursday when the prize dropped below $ 118,000. The fire of volatility was fueled by an interview in which the American Minister of Finance Scott Bessent was involved, who said that the government is not going to buy the digital active for its strategic reserve and instead build with confiscated assets.
The trend in the BTC price over the last few days | Source: BTCUSDT on TradingView
A few hours later, however, Bessent went X And clarified that the treasury is also open to exploring budget -neutral ways to acquire more of the asset. It is visible from the graph that the price of BTC made some recovery after the explanation, but it was not long because the coin returned to $ 117,800.
Featured image of Dall-E, graph of TradingView.com
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