#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 operate in Hong Kong and provide 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, 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 issued a public announcement warning the public to be wary. iSCAT claims to have operated in Hong Kong, providing cryptocurrency trading services and promoting its website and mobile application through social media. However, the SFC emphasizes that iSCAT has not been licensed by it, and it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. According to the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance 2018, iSCAT's actions are suspected of being illegal. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites and reminded investors to invest cautiously and avoid falling into scams. This incident once again reminds investors that when investing in virtual assets, they must choose legitimate licensed platforms and carefully read relevant risk warnings to avoid economic losses.
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.