Authors: Carl Fernandes, Kishore Bhindi, Clara Hackney

HKMA on how banks should custody digital assets

The HKMA has published a circular with standards which they expect Authorized Institutions (“AIs”) to adhere to if providing custody for digital assets. AIs should follow the standards both in relation to any standalone custody services for digital assets, as well as custody carried out in connection with the provision of intermediary services for digital assets.