#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 operate in Hong Kong and provide cryptocurrency trading services, but it has not been licensed by the SFC. Its operation of regulated activities or provision of virtual asset services in Hong Kong is illegal. The SFC has added iSCAT and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and has reminded the public to be wary of the platform and avoid investment risks.
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 have operated in Hong Kong, providing cryptocurrency trading services and promoting investment through social media by encouraging investors to visit its website and mobile application. 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, it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. The SFC has added "iSCAT" and related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and has warned the public to be wary of the platform. At the same time, the SFC also announced that licensed virtual asset trading platform Hash Blockchain Limited has reported 11 websites as fraudulent websites, reminding investors to be vigilant.
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 its website and app through social media platforms to induce investors to invest in cryptocurrencies.
iSCAT operates regulated activities or provides virtual asset services in Hong Kong without a license, which is illegal.
The Hong Kong Securities and Futures Commission has included iSCAT in its list of suspicious virtual asset trading platforms and reminded the public to be wary.