#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 reminds the public to be wary of iSCAT and advises investors to choose virtual asset trading platforms carefully and avoid investing in unlicensed platforms.
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 its related websites to its list of suspicious virtual asset trading platforms on January 10, 2025, and warned the public to be wary of the platform. In addition, the SFC announced that licensed virtual asset trading platform Hash Blockchain Limited has reported 11 websites as fraudulent, reminding investors to be aware of the 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 investors to access its website and mobile application for investment through social media.
It is illegal for iSCAT to operate regulated activities or provide virtual asset services without a license in Hong Kong.
The Hong Kong Securities and Futures Commission has included iSCAT in its warning list of suspicious virtual asset trading platforms.