Hong Kong’s SFC Warns of MEXC Related Suspected Crypto Fraud
Securities and Futures Commission (SFC) of Hong Kong has warned about an alleged scam utilizing cryptocurrency exchange MEXC. The SFC claims that on February 9th, police notified the public about a purported scam involving a company operating under the name MEXC and posing as a virtual asset trading platform (VATP). MEXC and its websites are […]
Hong Kong Announces Legislative Consultation on Cryptocurrency
Hong Kong authorities have opened a public consultation on legislative plans to establish a licensing system for providers of over-the-counter (OTC) virtual asset trading services. The Hong Kong government claims that certain fraud cases have revealed the participation of VA over-the-counter operators; therefore, in order to lower the dangers associated with money laundering and financing, […]
Bybit Seeks License in Hong Kong for Crypto Asset Trading
According to regulatory papers, the cryptocurrency exchange Bybit has sought a Virtual Asset Service Provider (VASP) license in Hong Kong. Bybit is now one of the fourteen candidates vying for a Securities and Futures Commission (SFC) license to provide services in Hong Kong. In the regulatory filing that was sent in on January 31, Bybit […]
Worldcoin Faces Privacy Probe in Hong Kong
Worldcoin, a crypto project backed by Sam Altman, has been investigated by the Office of the Privacy Commissioner in Hong Kong for potential privacy risks. The project uses iris verification to distribute its tokens, which may violate the Privacy Ordinance and expose sensitive biometric data. According to a translated version of a statement released by […]
Floki Restricts Staking for Hong Kong Users Following SFC’s Warning
The Hong Kong Securities and Futures Commission (SFC) has cautioned users against staking in the dog-themed meme coin project, Floki, describing it as “suspicious investment products.” The SFC warned users within its jurisdiction on January 26 regarding the Floki and TokenFi staking programs, highlighting their guaranteed annualized returns ranging from 30% to over 100%. As […]