#Hong Kong Securities and Futures Commission names iSCAT#

The Hong Kong Securities and Futures Commission (SFC) has recently named iSCAT as a suspicious virtual asset trading platform and published a list of 11 fraudulent virtual asset trading websites. iSCAT, or International Standard Carbon Asset Technology Limited, claims to operate in Hong Kong, providing cryptocurrency trading services and promoting investor access to its website and mobile application through social media. However, the platform has not been licensed by the SFC. Under the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance 2018, it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. The SFC has added "iSCAT" and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and has reminded the public to be wary of the platform and avoid economic losses. In addition, licensed virtual asset trading platform Hash Blockchain Limited has reported 11 fraudulent websites, which the SFC has also added to its warning list. The SFC reminds investors to invest cautiously and avoid being scammed.