Hong Kong interacts with encryption breaches, tightening nursery rules star-news.press/wp

The Hong Kong Securities and Securities Committee (SFC) has launched tougher nursery rules for the exchange of licensed encryption to protect the user’s assets.

Hong Cong Cracks from the wallet is aimed at repairing the wallet

On the website advertisementHong Kong SFC has revealed new border requirements for the worldly processing of all licensed virtual asset trading platforms (VATPS). The document deals with a variety of topics such as a cold wallet management and monitoring the threat in actual time, as well as determining examples of good practices.

SFC has set these standards in response to cybersecurity incidents abroad, which have been exposed to vulnerabilities in the portfolio management systems in the exchange of encryption. According to the HACKEN report, the industry lost $ 3.1 billion in attacks in the first half of 2025 alone.

Hong Kong organizer also conducted a targeted review earlier this year to test the VAT against similar weaknesses. “While most of the platform operators reported the existence of basic control measures in place, some responses were considered insufficient,” noted the circle.

VAT is not the only one expected to meet the requirements for issuing documents today. The same criteria will also apply to virtual asset secretaries, and SFC notes that these guidelines will act as prior conditions for moving to advanced nursery techniques.

Dr. Eric Yip, Executive Director of the SFC, said:

In order for Hong Kong to strengthen a competitive, sustainable and reliable ecological system, the customer’s assets must always be a top priority for all licensed value -added tax, which can benefit from SFC’s practical guide to increase their custody practices, especially clear risks in the world.

The move followed other organizational efforts by Hong Kong to present itself more encryption. In May, the city’s Stablecoin Bill in the City approved the Legislative Council and took part into force at the beginning of this month.

Large names such as Standard Charged lined up in her joint project to apply for a Stablecoin license under this rule. The first batch of approvals is expected to come until 2026, according to reports.

Bitcoin price decreased less than $ 118,000

The first encrypted, Bitcoin, hit a blow on Thursday, when its price fell to less than 118,000 dollars. The fluctuations were tightened by an interview that included US Treasury Secretary Scott Beesen, who said that the government is not planning to buy digital assets for its strategic reserve and will be built instead using the confiscated assets.

The trend in the BTC price over the last few days | Source: BTCUSDT on TradingView

A few hours later, took Bessent to x He explained that the cabinet is also open to explore neutral ways for the budget for more assets. From the graph, it is clear that the price of BTC has regained some recovery after the statement, but it did not continue as long as the currency fell to $ 117,800.

Distinctive image from Dall-E, Chart from TradingView.com

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