#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
The Hong Kong Securities and Futures Commission (SFC) has recently named iSCAT and added it to its list of suspicious virtual asset trading platforms. iSCAT claims to have operated in Hong Kong and provided cryptocurrency trading services, but it has not actually been licensed by the SFC. The SFC reminds the public that it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites and reminds investors to invest cautiously to avoid losses.
Ace Hot Topic Analysis
Analysis
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 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. Operating regulated activities or providing virtual asset services in Hong Kong without a license is illegal under the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance 2018. The SFC has added "iSCAT" and its 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, the SFC has published a list of 11 fraudulent websites and reminded investors to choose platforms licensed by the SFC when investing in virtual assets and to be aware of fraudulent websites and platforms.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
iSCAT is an unlicensed virtual asset trading platform operating in Hong Kong and providing cryptocurrency trading services.
iSCAT promotes investor access to its website and app for investment through social media platforms.
iSCAT operates regulated activities or provides virtual asset services in Hong Kong without a license, in violation of the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance.
The Hong Kong Securities and Futures Commission has included iSCAT in its list of suspicious virtual asset trading platforms and has published 11 fraudulent virtual asset trading websites.