Friday, August 1, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

SFC Sounds Alarm on 3 Unlicensed VATPs in Hong Kong

29 June 2024
in Crypto Updates
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on Twitter


The Securities and Futures Fee (SFC) issued a warning
immediately (Friday) about a number of entities suspected of partaking in fraudulent digital
asset-related actions. These entities are additionally purportedly working digital
asset buying and selling platforms (VATPs) in Hong Kong with out the required licenses.

SFC Flags Fraudulent Platforms

Below the Anti-Cash Laundering and Counter-Terrorist
Financing Ordinance, any provision or energetic advertising of digital asset
companies to Hong Kong buyers with out a licence is strictly prohibited. The
entities recognized on this regard are:

Tokencan: This platform claims to offer cryptocurrency
buying and selling companies in Hong Kong with out a licence. Tokencan makes use of social media to
direct buyers to its web sites for cryptocurrency investments. The SFC famous
that Tokencan offered false data, falsely claimed to have filed a
licence utility with the SFC, and has had investor stories of frozen
accounts and withdrawal points.

VBIT Trade: This entity is suspected of selling its
purported VATP companies to Hong Kong buyers with out a licence. It falsely
claimed to be regulated by authorities in numerous jurisdictions on its web site.

HKD.com Company: This entity makes use of a reputation and emblem very
just like one other VATP it isn’t related to. Buyers had been requested to
deposit funds into designated financial institution accounts for funding functions.
Subsequently, buyers reported difficulties in withdrawing funds.

Confirm VATP Licensing Standing

In response to the SFC’s request, the Hong Kong Police have
taken steps to dam entry to the related web sites and social media pages.
Nevertheless, the general public ought to stay cautious as scammers might proceed to create
web sites with related domains.

On-line funding scams can contain any sort of asset and
are sometimes performed via numerous channels, resulting in important losses for
buyers. The SFC advises the general public to remain vigilant and pay attention to
potential fraud when making funding choices.

“Buyers might danger shedding their total funding held on
the platform if it ceases operation, collapses, is hacked or in any other case suffers
from any misappropriation of belongings. If unsure concerning the licensing standing of
a VATP, please check with the SFC’s Record of licensed digital asset buying and selling
platforms,” the authority said.

This text was written by Tareq Sikder at www.financemagnates.com.



Source link

Tags: alarmHongKongSFCSoundsUnlicensedVATPs
Previous Post

Can FriendTech Survive in Today’s Social Media Landscape?

Next Post

John E. Deaton Criticized US Government’s Bitcoin Transaction To Coinbase Here’s Why | Bitcoinist.com

Related Posts

Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access
Crypto Updates

Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access

1 August 2025
Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules
Crypto Updates

Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules

1 August 2025
Bitcoin Shrugs Off Brief Fed Panic – Markets and Prices Bitcoin News
Crypto Updates

Bitcoin Shrugs Off Brief Fed Panic – Markets and Prices Bitcoin News

31 July 2025
OpenSea Ex-Manager’s Conviction Tossed in NFT Trading Case
Crypto Updates

OpenSea Ex-Manager’s Conviction Tossed in NFT Trading Case

1 August 2025
JPMorgan & Coinbase Team Up: Crypto From Rewards Coming
Crypto Updates

JPMorgan & Coinbase Team Up: Crypto From Rewards Coming

31 July 2025
Kraken Grows Fast, But Profits Dip Ahead of 2026 IPO Plans
Crypto Updates

Kraken Grows Fast, But Profits Dip Ahead of 2026 IPO Plans

31 July 2025
Next Post
John E. Deaton Criticized US Government’s Bitcoin Transaction To Coinbase Here’s Why | Bitcoinist.com

John E. Deaton Criticized US Government's Bitcoin Transaction To Coinbase Here's Why | Bitcoinist.com

Web3 Gaming’s Next Big Thing: Mass Ownership Explained

Web3 Gaming’s Next Big Thing: Mass Ownership Explained

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

19 July 2025
PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

30 July 2025
BNB Price Gears Up for Upside Break — Will Bulls Deliver?

BNB Price Gears Up for Upside Break — Will Bulls Deliver?

8 July 2025
Something Big Is Coming For XRP On July 9—Why It Matters

Something Big Is Coming For XRP On July 9—Why It Matters

8 July 2025
XRP could rally higher on steady capital inflow; check forecast

XRP could rally higher on steady capital inflow; check forecast

8 July 2025
10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

10 Most Popular Bitcoin Mining Apps for Android & iOS in 2025 | Earn Crypto Fast

24 May 2025
MEXC Expands Stock Futures Portfolio With Tron Inc. (NASDAQ: TRON) Listing, Introducing TRON/USDT Trading Pair – Press release Bitcoin News

MEXC Expands Stock Futures Portfolio With Tron Inc. (NASDAQ: TRON) Listing, Introducing TRON/USDT Trading Pair – Press release Bitcoin News

1 August 2025
Justin Drake Introduces “Lean Ethereum” Proposal

Justin Drake Introduces “Lean Ethereum” Proposal

1 August 2025
Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access

Wall Street’s Quiet Crypto Takeover: New Charts Reveal Who’s in and Who’s Still Blocking Access

1 August 2025
Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules

Crypto Leverage Under Fire: South Korea Set to Tighten Lending Rules

1 August 2025
A.I. Artificial Intelligence (2001)

A.I. Artificial Intelligence (2001)

1 August 2025
A Ticking Time Bomb? US Senator Compares GENIUS Act to 2008 Financial Crisis

A Ticking Time Bomb? US Senator Compares GENIUS Act to 2008 Financial Crisis

1 August 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$115,060.00-2.94%
  • ethereumEthereum(ETH)$3,626.36-6.05%
  • rippleXRP(XRP)$2.93-7.43%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$769.32-5.12%
  • solanaSolana(SOL)$167.92-7.93%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • staked-etherLido Staked Ether(STETH)$3,623.60-6.08%
  • tronTRON(TRX)$0.325469-0.78%
  • dogecoinDogecoin(DOGE)$0.204906-8.87%