#Hong Kong Securities and Futures Commission names iSCAT#

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 platform has not been licensed by the SFC. According to Hong Kong's relevant laws and regulations, 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 suspicious virtual asset trading platforms on January 10, 2025. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites and reminded investors to be vigilant. The SFC's move aims to protect investor interests, crack down on illegal activities of unlicensed virtual asset trading platforms, and maintain the stability and security of Hong Kong's financial markets.