#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 added it to its warning list. iSCAT claims to have operated in Hong Kong, providing cryptocurrency trading services and promoting investor access to its website and mobile application for investment 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 the public to be vigilant.
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 claims to operate in Hong Kong, providing cryptocurrency trading services and promoting investors to access its website and mobile application for investment 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 its related websites to the list of suspicious virtual asset trading platforms on January 10, 2025, and warned the public to be wary of the platform. At the same time, the SFC has also published a list of 11 fraudulent virtual asset trading websites, reminding investors to be aware of the risks and choose legitimate licensed virtual asset trading platforms for trading.
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 operating regulated activities or providing virtual asset services in Hong Kong without a license is illegal.
The Hong Kong Securities and Futures Commission has included iSCAT in its list of suspicious virtual asset trading platforms.