Home Finance Crypto news HKMA Issues Guidance for Firms Offering Crypto Custody

HKMA Issues Guidance for Firms Offering Crypto Custody

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HKMA Issues Guidance for Firms Offering Crypto Custody

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The collapse of FTX, Terra, and Three Arrows have led authorities to frame regulations or guidance to protect customers from inadequacies in the digital asset industry. The HKMA document says firms should hold clients’ digital assets in separate accounts segregated from the firm’s own assets in the event of insolvency. Companies should prevent the use of client assets for the firm’s accounts.

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