New System Rollout for Virtual Asset Firms
In a recent announcement, the Hong Kong Securities and Futures Commission (SFC) stated that all licensed virtual asset service providers must transition to the STREAMS 2 platform by February 2, 2026.
Why the Upgrade to STREAMS 2?
Developed by the Joint Financial Intelligence Unit, STREAMS 2 replaces the existing system with enhanced automation and data analysis capabilities, improving the efficiency and accuracy of suspicious transaction reporting.
- Enhance transaction monitoring
- Accelerate financial intelligence processing
- Streamline compliance procedures
Reporting Methods Now Updated
As of February 2, 2026, STREAMS 2 will be the sole platform for submitting suspicious transaction reports. Firms may submit via:
- XML file format
- Specified PDF document
- Online system forms