Securities and Futures Commission Warns Against Platforms Claiming Subscription of Hong Kong IPOs Using Virtual Currency: StableStock and HabitTrade

BlockBeats News, May 8th. According to official sources, the Securities and Futures Commission (SFC) of Hong Kong issued a warning, listing StableStock and HabitTrade, two unlicensed platforms, in its alert list.

The SFC stated that there were online videos enticing the public to use the StableStock platform, which claimed to allow subscription to Hong Kong IPOs with virtual currency and purported to collaborate with HabitTrade. The SFC pointed out that both institutions are not licensed by the regulatory body and are not authorized to conduct any regulated activities in Hong Kong or promote services to the public.