Hong Kong SFC adds "Hong Kong Stablecoin Exchange" to suspicious platform alert list

Hong Kong's Securities and Futures Commission on Dec. 16 added "Hong Kong Stablecoin Exchange" to its alert list of suspicious virtual asset trading platforms. The entity is suspected of operating without a license and engaging in virtual asset-related fraud, the SFC said. The platform falsely claimed joint establishment by Hong Kong Exchanges and Clearing, the Stock Exchange of Hong Kong and the Hong Kong Futures Exchange, but has no connection to any of the three venues.