#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 published a list of 11 fraudulent virtual asset trading websites. iSCAT claims to have operated in Hong Kong, providing cryptocurrency trading services, but it has not actually been licensed by the SFC. The SFC reminds the public to be wary of iSCAT and emphasizes that it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license.
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 investment through social media, encouraging investors to access its website and mobile application. However, the platform was not 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, warning the public to be wary of the platform. In addition, the SFC announced that licensed virtual asset trading platform Hash Blockchain Limited had reported 11 websites as fraudulent, reminding investors to be aware of the risks and avoid losses.
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 warned the public to be wary.