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Hong Kong
Regulation

Hong Kong Orders Crypto Platforms, Online Brokers To Drop One-Time Passwords

37 min 30 sec ago

Hong Kong's Securities and Futures Commission (HKSFC) has ordered internet brokers and virtual asset trading platform (VATP) operators to stop using one-time passwords (OTP) for client logins and device binding. The regulator, acting on 9 Jul as losses from increasingly sophisticated online fraud climb, told firms to adopt more robust methods instead.