According to Odaily, Xu Yibin, Executive Director and CEO of Hong Kong's Bright Smart Securities, has expressed concerns about the current state of virtual asset custody in the United States. Xu pointed out that there is still uncertainty in the custody of virtual assets, as the custodians are not licensed by a single major government authority. He emphasized that his intention is not to be pessimistic but to ensure the safety of client assets. Xu mentioned that if recognized official institutions, such as exchanges, handle the custody, the company would consider developing in this area. Currently, two virtual currency exchanges have been licensed by the Securities and Futures Commission (SFC), and the regulatory rules have clear requirements for asset custody. However, it is noted that the trading activity on these two exchanges is not as active as major overseas platforms.