#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 in fact it has not been licensed by the SFC and its operation in Hong Kong is illegal. The SFC reminds the public to be wary of iSCAT and advises investors to choose virtual asset trading platforms carefully to avoid investment risks.
Ace Hot Topic Analysis
Analysis
The Hong Kong Securities and Futures Commission (SFC) recently named iSCAT as a suspicious virtual asset trading platform and published a list of 11 fraudulent virtual asset trading websites. iSCAT claimed to operate 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. 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 added "iSCAT" and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025. This incident serves as a reminder to investors to choose legitimate and compliant platforms when investing in virtual assets and to be aware of fraud risks.
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.