The Hong Kong Securities and Futures Commission has included the "Hong Kong Stablecoin Exchange" in the warning list of suspicious virtual asset trading platforms

The Hong Kong Securities and Futures Commission has announced that the "Hong Kong Stablecoin Exchange" has been included in the warning list of suspicious virtual asset trading platforms. The Hong Kong SFC stated that this entity claims to operate a virtual asset trading platform, suspected of conducting unlicensed activities/engaging in virtual asset-related fraudulent activities. The entity also falsely claims that it was jointly established by the "Hong Kong Stock Exchange, the Hong Kong Futures Exchange, and the Hong Kong Exchange," when in fact there is no connection to any of the three.