Hong Kong SFC Requires Brokers and Virtual Asset Platforms to Replace One-Time Passwords Within 12 Months

According to PANews, on July 9, Hong Kong's Securities and Futures Commission issued a circular requiring internet brokers and virtual asset trading platforms to cease using one-time passwords for customer login and device binding, replacing them with stronger authentication methods such as passkeys and device-binding solutions to prevent spoofing fraud. Large internet brokers must implement the changes immediately, while other institutions have 12 months to complete the transition. The SFC also mandated enhanced monitoring of abnormal login, trading, and withdrawal activities.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments