#The Hong Kong Securities and Futures Commission has named iSCAT platform as suspected fraud.#
Hot Topic Overview
Overview
The Securities and Futures Commission (SFC) of Hong Kong has recently named iSCAT platform as suspected fraud and added it to the warning list of suspicious virtual asset trading platforms. The iSCAT platform claims to operate in Hong Kong, providing cryptocurrency trading services, but it has not been licensed by the SFC. It is illegal for the platform to operate regulated activities or provide virtual asset services in Hong Kong without a license. The SFC also published a list of 11 fraudulent virtual asset trading websites and cautioned the public to be wary of such platforms to avoid financial losses.
Ace Hot Topic Analysis
Analysis
The Securities and Futures Commission (SFC) of Hong Kong has recently named the iSCAT platform as suspected of fraud and added it to its list of suspicious virtual asset trading platforms. The iSCAT platform claims to operate in Hong Kong, providing cryptocurrency trading services and promoting its website and mobile application for investment through social media. However, the platform is not licensed by the SFC, and it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license under the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance 2018. The SFC reminds the public to be wary of the iSCAT platform and advises investors to be cautious before investing and to choose virtual asset trading platforms that are licensed. Additionally, the SFC has published a list of 11 fraudulent virtual asset trading websites, reminding investors to be vigilant.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
iSCAT platform is suspected of operating virtual asset trading business without a license, violating relevant laws and regulations in Hong Kong.
iSCAT platform promotes through social media platforms, inducing investors to invest in cryptocurrencies.
The Hong Kong Securities and Futures Commission has listed iSCAT platform on the warning list of suspicious virtual asset trading platforms.
Investors should carefully choose virtual asset trading platforms, avoid investing in unlicensed platforms, and prevent financial losses.