#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
The Hong Kong Securities and Futures Commission (SFC) recently named iSCAT as a suspicious virtual asset trading platform and published a list of 11 fraudulent virtual asset trading websites. iSCAT claims to have operated in Hong Kong, providing cryptocurrency trading services, but in fact it has not been licensed by the SFC. Its operation in Hong Kong without a license to conduct regulated activities or provide virtual asset services is illegal. The SFC reminds the public to be wary of iSCAT and advises investors to choose virtual asset trading platforms carefully to avoid investment risks.
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 have operated in Hong Kong, providing cryptocurrency trading services and promoting its website and application through social media. However, the SFC pointed out that iSCAT has not been licensed by it, and it is illegal to operate regulated activities or provide virtual asset services without a license in Hong Kong. The SFC has added iSCAT and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and warned the public to be vigilant. In addition, licensed virtual asset trading platform Hash Blockchain Limited has also reported 11 fraudulent websites, reminding investors to be wary. The SFC's move aims to strengthen the regulation of virtual asset trading platforms, protect investor interests, and prevent fraudulent activities.
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 mobile application for investment through social media.
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 warned the public to be wary of the platform.