#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
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 claims to have operated in Hong Kong, providing cryptocurrency trading services, but has not actually been licensed by the SFC. Under Hong Kong law, it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. The SFC reminds the public to be wary of iSCAT and other unlicensed virtual asset trading platforms, and advises investors to choose 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 suspected virtual asset trading platform. iSCAT claims to operate 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 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 its list of suspected 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 the public to be wary of these platforms. The SFC's actions aim to protect investors from fraud and illegal activities and maintain the stability and security of Hong Kong's financial markets.
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 reminded the public to be wary.