#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 and using social media to promote investors to visit its website and app for investment. However, the platform has not been licensed by the SFC, and it is illegal to operate regulated activities or provide virtual asset services without a license in Hong Kong. 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 vigilant.
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 for investment through social media. However, the SFC pointed out that iSCAT has not been licensed by it and it is illegal to operate regulated activities or provide virtual asset services in Hong Kong without a license. iSCAT's actions are suspected of violating the Securities and Futures Ordinance and the Anti-Money Laundering and Terrorist Financing (Amendment) Ordinance. On January 10, 2025, the SFC added "iSCAT" and its related websites to the list of suspicious virtual asset trading platforms, reminding the public to be wary of the platform and invest in virtual assets cautiously. In addition, the SFC has also published a list of 11 fraudulent virtual asset trading websites, 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 platforms.
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 of the platform.