Hong Kong’s Streamlined Reporting System: Transition to STREAMS 2
Hong Kong’s Securities and Futures Commission (SFC) has officially announced the transition from its existing STREAMS platform to the newly developed STREAMS 2. The change will take full effect on February 2, 2026, marking a pivotal moment for licensed financial entities and virtual asset service providers alike.
As part of the upgrade, STREAMS 2 will become the exclusive platform for submitting suspicious transaction reports. The new system is designed to simplify reporting processes through automation and enhanced analysis features. Licensed entities will be able to submit reports via XML format, PDF uploads, or a direct online form submission option.
Registration and Downtime Details
The SFC is urging all licensed institutions to register for access to STREAMS 2 immediately. Registration includes completing a form available on the Joint Financial Intelligence Unit (JFIU) website and emailing it to the designated contact address. The legacy STREAMS system will undergo a planned downtime from January 28, 2026, until 9:00 a.m. on February 2, 2026, after which it will permanently shut down.
During this transition period, all urgent reports must be sent to the JFIU via alternative communication channels, such as email, phone, or fax. Notably, all previously submitted reports will be migrated to the new system, enabling entities to access historical data and consent statuses within STREAMS 2.
New Crypto Custody Rules Under ASPIRe
In addition to this system overhaul, the SFC has introduced stricter custody guidelines for licensed crypto platforms under its broader ASPIRe regulatory roadmap. These changes aim to fortify Hong Kong’s digital asset infrastructure while ensuring investor safety.
Key measures require crypto platforms to improve their cold storage architecture, implement enhanced device-level access controls, and adopt real-time threat detection mechanisms. Senior management at these platforms will also bear direct accountability for ensuring robust asset protection practices.
Protecting Client Assets: A New Era of Regulation
The updated guidelines come in the wake of a detailed sector-wide review. The SFC identified several weaknesses in existing cybersecurity protocols, many of which were linked to third-party wallet systems lacking sufficient transaction validation safeguards. These findings highlight the importance of adopting more comprehensive security solutions in the evolving crypto landscape.
For crypto trading platforms looking for compliant, high-security wallet systems, products like the Ledger Nano X offer industry-leading cold wallet technology. Its advanced security features provide reliable protection for digital assets, making it a great choice for both individual users and professional platforms.
Final Thoughts
With the upcoming launch of STREAMS 2 and tighter crypto custody regulations, Hong Kong continues to assert itself as a leader in financial and digital asset governance. Licensed entities are encouraged to begin the transition process now to ensure full compliance with these groundbreaking regulatory measures by the 2026 deadline.
