Yao Cai Securities: If there is an approved official custodian, consideration will be given to developing virtual currency trading services

ChainCatcher news, Hong Kong Yao Cai Securities Executive Director and CEO Xu Yibin stated that there is still uncertainty regarding the custody of virtual assets in the United States, as the current virtual asset custodians are not licensed by the same major government official agency.

He emphasized that he is not being pessimistic, as Yao Cai also needs to ensure the safety of client assets, and mentioned that if there are recognized official institutions such as exchanges handling related custody, they would consider development (Note: Currently, two cryptocurrency exchanges have been licensed by the Securities and Futures Commission, and the regulatory rules have clear requirements for asset custody, but it has been pointed out that the trading volume of these two exchanges is not as active as major overseas platforms).