Hong Kong Securities and Futures Commission's Yip Chi-hang: Beware of speculation on stablecoin benefits, high risks of unlicensed trading platforms

ChainCatcher news, according to Jinshi Data, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhiheng, stated that recently some companies have been using the application for stablecoin licenses to inflate their stock prices. Investors should remain rational and be wary of related scams.

He revealed that in the first half of this year, there were 265 complaints regarding virtual asset transactions, mainly involving overseas fraud, platform violations, or frozen funds, and warned about the risks of trading on unlicensed platforms.