Hong Kong's Securities and Futures Commission (SFC) has introduced stringent regulations for licensed crypto exchanges, including a requirement for 50% of customer assets to be insured.
This measure aims to enhance security and transparency in the handling of cryptocurrencies amid their increasing popularity. Leading exchanges like OSL and HashKey Exchange have swiftly adapted to these higher standards.
OSL boasts an impressive 95% insurance coverage through a partnership with Canopius, while HashKey Exchange secured an agreement with OneInfinity to protect user assets ranging from $50 million to $400 million.