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Home›Crypto›Regulation›Hong Kong SFC orders crypto platforms to replace OTP l…

Hong Kong SFC orders crypto platforms to replace OTP logins

The regulator set a 12 month deadline for platforms to switch from one time password logins after a 57.0% spike in spoofing incidents.

Reported · Written up by our desk · Regulation

The Block reports that Hong Kong's Securities and Futures Commission ordered internet brokers and crypto platforms to replace one time password login methods with passkeys within 12 months.

The Block said the move follows a 57.0% surge in spoofing activity.

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Sources

The BlockHong Kong SFC orders crypto platforms, online brokers to phase out OTP logins

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