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, […]
Hong Kong Crypto Investors Face Ultimatum from Regulators
Hong Kong crypto investors have to act fast and verify the licensed platforms they are trading on, as the regulators have set a deadline for the virtual asset trading platforms to obtain licenses or cease operations. The move is part of Hong Kong‘s regulatory overhaul to ensure investor protection and compliance. Hong Kong’s crypto landscape […]
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 […]
CMCC Global Launches $100M to Support Blockchain Startups
CMCC Global has established a $100 million fund to aid blockchain startups in Hong Kong and other Asian countries. On October 4, CMCC finished raising more than $100 million from more than 30 investors for its Titan fund. Block.One, the Richard Li-owned Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Yat Siu, the founder of […]