HONG KONG, Thursday, July 18, 2024 – Hong Kong’s Securities and Futures Commission (SFC) last week added seven unlicensed cryptocurrency exchanges to its alert list.
The move comes amid increasing scrutiny of digital asset trading platforms and concerns over investor protection.
The exchanges, which have not obtained the required licenses to operate in the territory, were identified following a series of investigations by the SFC.
The regulator urges investors to be cautious when dealing with unlicensed platforms, warning of the potential risks involved.
The details can be found in the SFC report titled SFC concludes consultation on regulation of virtual asset trading platforms.
The names of the unlicensed exchanges have not been disclosed.
Investors are encouraged to verify the licensing status of any platform before engaging in transactions.
