#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 has not obtained a license from 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, avoiding investment in unlicensed platforms to prevent losses.
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 has reminded the public to be wary of the platform and avoid investment risks. In addition, the SFC has published a list of 11 fraudulent websites, reminding investors to be cautious and avoid being deceived.
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 claims to have operated in Hong Kong, but in fact has not been licensed by the Hong Kong Securities and Futures Commission.
iSCAT promotes investors to access its website and mobile application for investment through social media, which poses a risk of fraud.
It is illegal to operate regulated activities or provide virtual asset services without a license in Hong Kong. Investors should beware of unlicensed platforms such as iSCAT.