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Hong Kong’s Central Bank Offers Institutional Guidance on Custody of Digital Assets

By Daisy Hodley Feb 20, 202449Views

Hong Kong Central Bank Issues Guidelines for Crypto Custodianship Services

The Hong Kong Monetary Authority (HKMA) has published new guidelines for financial institutions interested in offering crypto custodianship services. The guidelines encourage institutions to conduct thorough research on digital asset products to protect themselves and their customers. Authorized institutions are permitted to introduce and sell tokenized products, but they are also responsible for safeguarding consumers and providing adequate disclosure of material information about these products. AIs must manage the risks associated with crypto investments and adhere to the HKMA’s standards on digital asset custody. The release of these guidelines aims to ensure the protection of customers while promoting the growth of the crypto industry in Hong Kong.

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Daisy Hodley

Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy's insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy's insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.