Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Hong Kong Securities and Futures Commission: The private key of the trustee/custodian of virtual asset funds must be safely stored in Hong Kong

Hong Kong Securities and Futures Commission: The private key of the trustee/custodian of virtual asset funds must be safely stored in Hong Kong

CointimeCointime2023/12/23 01:55
By:Cointime

The Hong Kong Securities and Futures Commission pointed out in the "Circular on the Recognition of Virtual Asset Investment Funds by the Securities and Futures Commission" that the trustee/custodian of virtual asset funds and any representative responsible for holding virtual assets recognized by the Securities and Futures Commission should ensure that the holding of virtual assets is separated from their own assets and assets held for other clients, and most of the virtual asset holdings should be stored in cold wallets. The amount and term of virtual asset holdings stored in hot wallets should be minimized unless necessary for subscription and redemption, and the mnemonic words and private keys should be stored securely in Hong Kong, with strict restrictions on authorized personnel, sufficient resistance to speculation (such as through non-deterministic generation) or collusion (through measures such as multi-signature and key splitting), and appropriate backup to reduce any single point of failure.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Genius Group Ordered to Sell Bitcoin Holdings

Genius Group must sell 10 BTC due to a court order, slashing its crypto treasury and market cap significantly.Unexpected Setback for Genius GroupMarket Cap Falls Below Bitcoin ReservesConcerns About Stability and Transparency

Coinomedia2025/04/04 14:11
Genius Group Ordered to Sell Bitcoin Holdings

Ethereum Price Sees 4 Straight Red Months

Ethereum has closed four red months in a row, but long-term holders remain hopeful for a rebound.Ethereum’s Tough Streak ContinuesHope on the Horizon for Ethereum Holders

Coinomedia2025/04/04 14:11
Ethereum Price Sees 4 Straight Red Months

Nexchain Emerges as April’s Best ICO: A New Era for Blockchain

Nexchain is committed to facilitating interoperability from one blockchain to the next through artificial intelligence, allowing for cross-chain communication and operational efficienciesConclusion

Coinomedia2025/04/04 14:11
Nexchain Emerges as April’s Best ICO: A New Era for Blockchain