Hong Kong Enhances Virtual Asset Custody Standards: New Rules Boost Market Trust

The Hong Kong Securities and Futures Commission (SFC) has introduced new guidelines for virtual asset trading platforms, aiming to improve trust within the sector and enhance market liquidity. These updates specifically target custody practices for these platforms. This initiative follows a global trend towards regulated digital asset frameworks, seeking to foster a more sustainable ecosystem. Key changes include enhanced security protocols for staking major cryptocurrencies like ETH and BTC, which are expected to bolster participation in this area through compliant platforms.