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Home»Legal and Regulatory»Hong Kong’s SFC sets deadline for crypto firms to report suspicious transaction under new system, STREAM 2
Legal and Regulatory

Hong Kong’s SFC sets deadline for crypto firms to report suspicious transaction under new system, STREAM 2

January 28, 2026No Comments3 Mins Read
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Hong Kong’s Securities and Futures Commission (SFC) has stated that financial institutions must transition to the new suspicious transactions reporting platform.

Hong Kong’s initial Suspicious Transaction Report and Management System (STREAM) is set to stop working by midnight on January 28 this year. In its place will be the Second Generation Suspicious Transaction Report and Management System, also known as STREAMS 2.

Even with the cutoff date, there will be a five-day gap where users must report emergencies manually through email, phone, and fax.

Hong Kong’s SFC sets deadline

The Hong Kong Securities and Futures Commission (SFC) has officially set the timeline for financial institutions like licensed corporations, virtual asset service providers (VASPs), and associated entities to transition to the “Second Generation Suspicious Transaction Report and Management System,” also known as STREAMS 2.

This new platform replaces the original STREAMS system and is designed to help the Joint Financial Intelligence Unit (JFIU) process data faster. The SFC says the new system uses better automation and analysis to track suspicious money activities.

According to the SFC circular, the JFIU will shut down the existing STREAMS platform at midnight on January 28, 2026. This will create a “blackout period” during which the JFIU cannot receive reports through any online portal. The blackout will last until the morning of February 2.

A firm in urgent need to file a Suspicious Transaction Report (STR) during these five days, must use traditional communication methods like email, phone and fax.

Once launched, STREAMS 2, will be the only legal channel for submitting STR reports. Any report sent through other channels after this time will not be accepted and will need to be resubmitted.

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All previous reports filed through the old system will be moved to STREAMS 2 where firms can log in to view their past records and check the status of their previous filings.

New users must download the “STREAMS 2 User Registration Form” from the official JFIU website and email it to the unit afterwards in order to comply with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) laws.

Regulatory changes planned for 2026

Hong Kong’s Financial Secretary Paul Chan recently spoke at the World Economic Forum in Davos and confirmed that the country is ready to issue its first stablecoin licenses during the first quarter of 2026.

Under these rules, any company that wants to offer or market stablecoins to the public in Hong Kong must get approval from the HKMA. They are required to have a minimum paid-up capital of HK$25 million and keep high-quality assets in reserve.

They also must guarantee that users can redeem their stablecoins at par value. As of late 2025, 36 companies had already applied for these licenses. This includes major groups like a joint venture between Standard Chartered and Animoca Brands.

In early 2026, a new bill is expected to reach the Legislative Council to amend the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). This bill will create a license for those who provide advice on either buying or selling virtual assets. These managers will need to maintain at least HK$5 million in share capital.

Crypto Deadline Firms Hong Kongs Report sets SFC Stream suspicious system transaction
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