#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 issued a warning list of 11 fraudulent virtual asset trading websites. iSCAT claims to operate in Hong Kong and provide cryptocurrency trading services, but it has not actually 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 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 investor access to its website and mobile application through social media. 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 2018 of Hong Kong, 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 reminded the public to be wary of the platform and avoid investment risks. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites and reminded investors to choose trading platforms carefully to avoid falling victim to scams.
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 has not been licensed by the Securities and Futures Commission (SFC) of Hong Kong.
It is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license from the SFC.
The SFC has included iSCAT in its warning list of suspicious virtual asset trading platforms.