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Securities and Futures Commission Intermediaries Division Executive Director: Some companies have stated that they plan to apply for a stablecoin license, causing their stock prices to rise. Investors need to be cautious of the risks.
BlockBeats News, August 17th, according to Ming Pao report, Leung Chee-hing, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission (SFC), stated that after the recent implementation of the "Stablecoin Regulation," some companies have claimed to have applied for a license or intend to apply for one, leading to a rise in their stock prices. He pointed out that investors' response has been fervent and urged investors to maintain a "line of reason," as the SFC is concerned about the increased risk of fraud.
Leung Chee-hing stated that in the first half of this year, there were 265 complaints related to virtual asset trading, mainly involving overseas investors investing abroad and reporting monetary losses. The reasons included falling victim to fraud, assets being stolen due to platform hacking, platforms refusing to acknowledge winnings, or the trading counterparty being accused of money laundering, resulting in sudden fund freezes. He pointed out that when investors trade virtual assets but do not use a licensed platform, investors are essentially taking risks and playing "Russian roulette."
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