Speaking to the radio program "Make It Clear", Mr. Ip Chi Heng, Executive Director of the Intermediaries Division of the Hong Kong Securities Supervision Commission, said that after the recent entry into force of the Stablecoin Ordinance, some companies have claimed to apply for licenses, or intend to apply for licenses, and their company share prices have risen. He pointed out that investors have responded enthusiastically, calling on investors to abide by the "line of reason", and the Securities Supervision Commission is concerned about the increase in the risk of fraud.
Ye Zhiheng said that there were 265 complaints about virtual asset transactions in the first half of this year, mainly involving foreign investors' overseas investments, and claiming that there were monetary losses. The reasons included fraud, platform intrusion and theft of assets, platform failure to recognize the number when winning money, or the transaction party was accused of money laundering, and the funds were suddenly frozen. He pointed out that when investors trade virtual assets but do not use licensed platforms, they are actually taking risks and playing "Russian roulette". In addition, he mentioned that the Securities Supervision Commission said it is still investigating the JPEX fraud case.
Hong Kong Securities Supervision Commission Ye Zhiheng: Some companies say that they plan to apply for a stablecoin license, the stock price will rise, and investors need to be vigilant against the increased risk of fraud
2025-08-17 08:18:43
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