Hong Kong SFC tightens crypto storage rules after global security incidents and $ 3 billion losses-fraudsters relocate money 75 times faster!

Hong Kong SFC tightens crypto storage rules after global security incidents and $ 3 billion losses-fraudsters relocate money 75 times faster!

Hong Kongs SFC tightens regulations on crypto storage after global security incidents

The financial supervisory authority of Hong Kong, the Securities and Futures Commission (SFC), has tightened its regulations for storing cryptocurrencies. This measure is a reaction to a number of global security incidents that have led to a total loss of $ 3 billion. These incidents have shown that hackers now move their stolen funds 75 times faster than before.

The new rules are intended to create a safer framework for the storage of digital assets and strengthen trust in the cryptom market. The SFC emphasizes that robust security measures and continuous surveillance for crypto farms are of the greatest importance in order to protect users from further losses.

This step is part of a more comprehensive initiative to increase the regulation in the area of ​​cryptocurrencies and to minimize the risks associated with digital assets. The SFC demands that the companies deal more with security technologies and practices in order to better secure their customers' assets.

The reactions to these new regulations are mixed. While some consider the initiative to be necessary to offer investors more security, other possible negative effects on the innovative strength and competitiveness of the sector in Hong Kong see. Nevertheless, the SFC's decision shows that the need for a safer and regulated crypto market is more urgent than ever, especially in view of the increasing number of cyber attacks on digital assets.

Overall, the tightening of the crypto storage rules in Hong Kong is seen as an important step in order to strengthen the trust of investors and to maintain the integrity of the market in times of increasing threats from cybercrime.