According to a press release issued on Tuesday, the Financial Supervisory Commission (FSC) plans to open applications for the “virtual asset custody business” business trial, and hopes to solicit public opinions for 15 days before formally accepting trial case applications.
According to the information provided by financial institutions when applying for the custody business trial, it includes the types of virtual assets to be stored (such as Bitcoin or Ethereum) and the service targets for custody (such as virtual asset exchanges or institutional investors).
According to the Central News Agency, Hu Zehua, the director of the Comprehensive Planning Department of the FSC, stated in a routine press conference on Tuesday that they will further revise the explanatory materials based on public opinions and formally announce the start date for accepting trial applications. According to the FSC, three private banks have expressed interest in the virtual asset custody business, and they hope to serve virtual asset exchanges and professional institutional investors. The regulatory agency estimates that the first application case will appear in the first quarter of next year.
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