SFC Dey Tight Up Digital Asset Custody Wit 24/7 Monitoring
Di Hong Kong Securities and Futures Commission (SFC) don update dia digital asset custody standards for all licensed virtual asset trading platforms (VATPs). Di new rules say platform dem must detect if any unauthorized person dey access wallet and dem go allow withdrawals only if dem address dey for whitelist. All system, network, and wallet activity must dey monitored for threat 24/7. Cold wallets no suppose carry smart contract, and VATPs must apply whitelist controls plus dey check every transaction for cold wallet transfer. Platform dem must reconcile client assets wey dey on-chain wit ledger balance in real time and report any kasala immediately. Senior management go dey oversee cold wallet work plus verify third-party wallet security. E start to happen sharply, and e wan tackle all di weakness wey overseas cyber attack and local review show. SFC want make sure say client assets safe, make external attack no easy, and make market trust better. These new custody standards go join Hong Kong big crypto reforms wey get stablecoin and derivatives licensing to help make Hong Kong global crypto hub.
Bullish
Di new digital asset custody standard dem we SFC don set, e strong client asset protection by making sure say dem dey do real-time monitoring, withdrawal whitelists, plus tight wallet controls. Dis kind measures dey reduce security risk dem and e boost market confidence, wey go encourage more trading activity and institutional participation. As e take address weakness dem and e dey follow bigger regulatory reforms well-well, the update fit get Oga positive impact for Hong Kong crypto market.