Original sourceAltcoinvest
Summary
Hong Kong's Securities and Futures Commission requires virtual asset trading platforms and online brokers to switch to phishing-resistant authentication within 12 months, banning SMS, email, or in-app one-time passwords. Acceptable alternatives include passkeys, registered device cryptographic veri…
Key points
- Directly impacts compliance timelines and security architectures for all platforms serving Hong Kong users, with immediate operational relevance.
- Hong Kong takes the lead with mandatory requirements for crypto platforms to eliminate weak authentication, raising the bar against phishing attacks.
- Platforms must deploy hardware or biometric authentication within a year, potentially boosting demand for security keys and anti-phishing technologies.
Editorial note
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