#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
The Securities and Futures Commission (SFC) of Hong Kong 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 its website and mobile application through social media. However, the platform has not been licensed by the SFC, 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 has warned the public to be vigilant.
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, or International Standard Carbon Asset Technology Limited, claims to have operated 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, it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. The SFC has added "iSCAT" and its related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and has warned the public to be wary of the platform. In addition, the SFC has published a list of 11 fraudulent virtual asset trading websites, reminding investors to be aware of the risks and to choose legitimate licensed virtual asset trading platforms for their transactions.
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 its website and application through social media platforms to induce investors to invest in cryptocurrencies.
iSCAT is not licensed by the Securities and Futures Commission (SFC) of Hong Kong, and it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license.
The SFC has included iSCAT in its list of suspicious virtual asset trading platforms and has warned the public to be wary.