TLDR
- The SFC confirmed STREAMS 2 will fully replace the existing STREAMS reporting system on February 2, 2026.
- From that date, licensed entities must submit suspicious transaction reports only through STREAMS 2.
- The new platform supports XML submissions, PDF uploads, and direct online reporting forms.
- The legacy STREAMS system will shut down from January 28 to February 2, 2026, before permanent closure.
- Alongside STREAMS 2, the SFC has introduced stricter crypto custody rules under its ASPIRe regulatory roadmap.
Hong Kong’s Securities and Futures Commission (SFC) has announced the official transition timeline to a new suspicious transaction reporting platform called STREAMS 2, developed by the Joint Wealth Intelligence Unit, with the change set to take full effect by February 2, 2026. STREAMS 2 will replace the legacy STREAMS platform, aiming to improve automation and analysis of suspicious transaction reports submitted by regulated entities.
Licensed Entities Must Shift to STREAMS 2 by February 2, 2026
From February 2, 2026, STREAMS 2 will serve as the exclusive platform for submitting suspicious transaction reports to the Joint Financial Intelligence Unit. Submissions can be completed through three channels: XML format, PDF upload, or by filling out the online report form. The SFC has instructed all licensed institutions to begin registering for user access to STREAMS 2 immediately.
To register, users must complete the registration form available on the Joint Financial Intelligence Unit website and email it to the designated address. The transition process includes a planned system shutdown period from 12:00 a.m. January 28 to 9:00 a.m. February 2, during which the old STREAMS system will not accept reports. Urgent reports during this downtime should be directed to the JFIU via email, phone, or fax.
Once STREAMS 2 goes live, historical reports submitted via STREAMS will be migrated to the new platform. Licensed corporations and virtual asset service providers will be able to review past reports and access consent statuses directly in STREAMS 2. Entities opting to use XML submissions must coordinate with the Joint Financial Intelligence Unit in advance to carry out technical testing.
SFC Expands Oversight with New Crypto Custody Rules
As reported by Blockonomi earlier, SFC has been experiencing a wave of developments, including new custody rules targeting crypto platforms operating in the city. Towards the end of last year, the regulator issued updated guidelines that set tighter operational standards for safeguarding client assets.
The rules fall under the broader ASPIRe roadmap, which aims to enhance Hong Kong’s digital asset infrastructure. All licensed virtual asset trading platforms must strengthen their cold wallet architecture, tighten device-level access controls, and enable real-time threat detection.
Operators must also ensure that senior management maintains direct accountability for asset protection practices. The SFC released these rules following a sector-wide review that uncovered weaknesses in some platforms’ cybersecurity protocols, often tied to third-party wallet systems with weak transaction validation safeguards.
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Source: https://blockonomi.com/sfc-confirms-transition-timeline-for-new-suspicious-transaction-reporting-platform-streams-2/
