Hong Kong Mandates Digital Security: Institutional gatekeepers tighten the noose on legacy authentication.
The Digital Perimeter: Trading convenience for systemic survival. The Phishing Paradox: How Hong Kong's Security Mandate Redefines Institutional Exchange Moats Requiring unbreakable security on digital asset exchanges is actually a stealthy consolidation of institutional power. Regulatory Absorption: The new floor for institutional entry. The Securities and Futures Commission of Hong Kong issued a directive on July 9 requiring licensed virtual asset service providers and internet brokers to eliminate one-time passwords by July 8, 2027. Under this circular, compliance shifts from standard SMS and email protocols to phishing-resistant cryptographic authentication for client logins and device registration. This policy directly targets systemic vulnerabilities exposed during widespread phishing campaigns in 2025...