Hong Kong Securities and Futures Commission: Lists iSCAT as a suspicious virtual asset trading platform and announces 11 fraudulent virtual asset trading websites

2025-01-11 11:15:47

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ChainCatcher news, according to official information, the Hong Kong Securities and Futures Commission (SFC) warns the public to be cautious of an unlicensed virtual asset trading platform named International Standard Carbon Assets Technology Co., Limited, also known as "iSCAT" or "iSCAT Exchange."

The Hong Kong SFC stated that "iSCAT" and/or "iSCAT Exchange" claims to be a virtual asset trading platform that once operated in Hong Kong, offering cryptocurrency trading services and using social media platforms to promote investors to its website and app for investing in cryptocurrencies. According to the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, conducting regulated activities and providing virtual asset services (i.e., operating a virtual asset exchange) in Hong Kong without a license and/or actively promoting such services to Hong Kong investors is a criminal offense.

In addition, the Hong Kong SFC also announced that the licensed virtual asset trading platform Hash Blockchain Limited reported 11 websites as fraudulent sites.

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