#hong kong securities and futures commission

The post Hong Kong SFC forces crypto platforms to ditch SMS authentication appeared on BitcoinEthereumNews.com. The Hong Kong Securities and Futures Commission has ordered licensed crypto trading platforms and online brokers to replace SMS-based authentication with phishing-resistant login methods within the next 12 months. Summary Hong Kong’s SFC has banned SMS-based authentication for licensed crypto platforms and online brokers. Firms have 12 months to adopt phishing-resistant login methods such as passkeys and hardware security keys. The move comes as phishing scams accounted for $306 million in crypto losses during Q1 2026. According to the Hong Kong Securities and Futures Commission (SFC), virtual asset trading platforms (VATPs) and online brokers must stop relying on one-time passwords delivered through SMS, email, or app-generated codes and instead adopt stronger authentication systems that are harder for attackers to compromise. The regulator announced the new cybersecurity re

The Hong Kong Securities and Futures Commission has ordered licensed crypto trading platforms and online brokers to replace SMS-based authentication with phishing-resistant login methods within the next 12 months. According to the Hong Kong Securities and Futures Commission (SFC), virtual…

The post Hong Kong Enforces Stricter Cybersecurity Measures for Crypto Platforms appeared on BitcoinEthereumNews.com. The Hong Kong Securities and Futures Commission (SFC) has tightened security regulations for virtual asset trading platforms and online brokerages, aiming to strengthen defenses against phishing attacks. This shift prohibits SMS, email, and app-based one-time passwords as authentication methods and provides industry players with a 12-month deadline to meet these newly reinforced security protocols. Continue Reading:Hong Kong Enforces Stricter Cybersecurity Measures for Crypto Platforms Source: https://en.bitcoinhaber.net/hong-kong-enforces-stricter-cybersecurity-measures-for-crypto-platforms

The post Hong Kong Regulator Orders New Anti-Phishing Measures for Crypto Platforms appeared on BitcoinEthereumNews.com. The Hong Kong Securities and Futures Commission (SFC) on Thursday issued new requirements for phishing-resistant authentication methods for virtual asset trading platforms (VATPs) and online brokers in the special administrative region. The new standards require stronger phishing-resistant authentication methods and device binding while prohibiting the use of one-time passwords through SMS, email or app-based logins. Platforms must implement the changes within the next 12 months. The requirements outlined stronger alternatives such as passkeys, registered devices with cryptographic verification and hardware security keys, which the SFC described as phishing-resistant solutions. The measures raise Hong Kong’s cybersecurity standards as the global crypto industry saw an increase in phishing attacks and social engineering scams in the first quarter of 2026. Those types