Hong Kong SFC's Thomas Atkinson: Beware of Stablecoin Hype, High Risks of Unlicensed Trading Platforms

BlockBeats News, August 18th. Terence Yeung, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, stated that recently some companies have manipulated stock prices under the guise of applying for a stablecoin license. Investors should remain rational and beware of related scams.

He revealed that the division received 265 complaints related to virtual asset trading in the first half of this year, mainly involving overseas fraud, platform infringement, or fund freezing. He also warned about the risks of trading on unlicensed platforms. (FX678)