The Hong Kong Securities and Futures Commission added seven crypto trading platforms to its alert list for operating without licenses, raising concerns over investor safety.
The Securities and Futures Commission of Hong Kong (SFC) issued alerts against seven crypto trading platforms for illegally operating in the region without operational licenses.
The Hong Kong SFC manages public records of all registered, unregistered and illegal crypto trading entities to reduce risks related to scams and fraud. The Alert List, which highlights exchanges that are either unlicensed or display false association with Hong Kong, saw the addition of seven exchanges on July 5.
The Hong Kong SFC has been maintaining the alert list since January 2020 and it currently has 39 entries. In 2024 alone, 28 cryptocurrency exchanges were flagged. The most recent additions to the list include Taurusemex, Yomaex, Bitones.org, BTEPRO, CEG, XTCQT, and Bstorest.
