Tag "Securities and Futures Commission (SFC)"

Hong Kong’s SFC Flags Bybit and MEXC in Crackdown on Unlicensed Crypto Activities

The Securities and Futures Commission (SFC) of Hong Kong has issued warnings about two unlicensed virtual asset trading platforms, Bybit and MEXC, advising the public to exercise caution. These platforms have been providing trading services in various crypto-related products without

Read More

Floki Staking and TokenFi Staking Added to SFC’s Alert List Over Risk Concerns

The Securities and Futures Commission (SFC) issued a public warning about two cryptocurrency investment schemes, named “Floki Staking Program” and “TokenFi Staking Program.” These programs claim to offer annualised returns ranging from 30 percent to over 100 percent. The SFC

Read More

Hong Kong Pins LonShiX and Bitbank on Alert List for Suspected Virtual Asset Fraud

The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning about two entities, LonShiX and Bitbank (Global) Financial Holding Group, for suspected virtual asset-related fraud. The SFC has identified LonShiX as claiming a fake Hong Kong

Read More

Fintech in Hong Kong: 2023 in Review

In 2023, Hong Kong’s fintech landscape continued to evolve, maintaining its position as a significant player in the global financial sector. This thriving metropolis hosts a dynamic ecosystem comprising over 800 fintech companies, 3,900 startups, and ten unicorn companies. With a

Read More

Second Crypto Scam Rocks Hong Kong, Over HK$120 Million Lost to Hounax

The Hong Kong police have initiated an investigation into Hounax, a cryptocurrency trading platform, after 131 individuals reported losing a total of HK$120 million (US$15.4 million) in what is suspected to be a fraudulent scheme. This news was initially reported

Read More

Hong Kong’s SFC Takes Legal Action Against AMTD for Suspected IPO Misdeeds

The Securities and Futures Commission (SFC) of Hong Kong has initiated legal proceedings against AMTD Global Markets Limited, now known as Orientiert XYZ Securities Limited, and several of its former executives. This action, initiated at the Court of First Instance,

Read More

ZA Bank Gains Regulatory Nod to Offer U.S. Stock Trading in Hong Kong

Hong Kong’s ZA Bank has received regulatory clearance from the Securities and Futures Commission (SFC) to expand its services. This approval amends the bank’s existing license, allowing it to move beyond dealing in collective investment schemes. ZA Bank is set

Read More

Hong Kong’s SFC Supports Development of Voluntary ESG Code of Conduct

The Securities and Futures Commission (SFC) of Hong Kong said that it “supports and sponsors” the development of a voluntary code of conduct for environmental, social and governance (ESG) ratings and data products providers. The code of conduct will be

Read More

SFC and HKMA Update Virtual Asset Policy to Protect Investors

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have updated their policy on virtual asset-related products (VA-related products) for intermediaries. These measures encompass selling restrictions where complex VA-related products will be restricted to professional investors,

Read More

SFC Introduced Virtual Asset Trading Platform Lists

The Securities and Futures Commission (SFC) recently launched multiple lists regarding virtual asset trading platforms (VATPs) on its website. This aligns with the SFC’s commitment to providing clear and transparent information to the public. Among the lists are licensed VATPs,

Read More