The Hong Kong Monetary Authority published an 11-page circular Tuesday on its standards for digital asset custody.
The Hong Kong Monetary Authority published an 11-page circular Tuesday on its standards for tokenization and digital asset custody for locally authorized institutions.
Such authorized institutions are also expected to segregate client assets from company assets and maintain contingency and disaster recovery plans to lessen “the risk of loss of client digital assets due to theft, fraud, negligence or other acts of misappropriation, as well as delayed access or inaccessibility of client digital assets," the HKMA guidance said.
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