#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
The Hong Kong Securities and Futures Commission (SFC) has recently named iSCAT (International Standard Carbon Asset Technology Limited) as a suspected 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 investors to access its website and mobile application for investment 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 suspected 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 suspected virtual asset trading platform. iSCAT claims to have operated in Hong Kong, providing cryptocurrency trading services and promoting investors to visit its website and mobile application for investment 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 its related websites to the list of suspected virtual asset trading platforms on January 10, 2025, and warned the public to be vigilant. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites, reminding investors to be aware of the risks.
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 app through social media platforms to induce investors to invest in cryptocurrencies.
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 Securities and Futures Commission of Hong Kong has included iSCAT in its list of suspicious virtual asset trading platforms and has warned the public to be wary of the platform.