#Hong Kong Securities and Futures Commission names iSCAT#
Hot Topic Overview
Overview
The Securities and Futures Commission (SFC) of Hong Kong has recently named iSCAT as a suspicious virtual asset trading platform and issued a public warning. iSCAT claims to operate 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, and it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites and reminded investors to invest cautiously to avoid losses.
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 published a list of 11 fraudulent virtual asset trading websites. iSCAT, or International Standard Carbon Asset Technology Limited, claimed 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. Operating regulated activities or providing virtual asset services in Hong Kong without a license is illegal under the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance 2018. The SFC has added "iSCAT" and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and warned the public to be vigilant. In addition, licensed virtual asset trading platform Hash Blockchain Limited has also reported 11 websites as fraudulent websites, reminding investors to invest cautiously and avoid falling into scams.
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 app for investment through social media platforms.
iSCAT is not licensed by the Securities and Futures Commission (SFC) of Hong Kong.
Operating regulated activities or providing virtual asset services without a license in Hong Kong is illegal.
The SFC has included iSCAT in its warning list of suspicious virtual asset trading platforms.