TechFlow news: Since the Hong Kong Securities and Futures Commission (SFC) issued a warning against unregulated cryptocurrency exchange JPEX on September 13 and referred the case to police, authorities have received over 2,300 reports involving more than HK$1.4 billion.
SFC Chief Executive Officer Julia Leung announced the creation of a new list of virtual asset trading platforms to help investors verify whether platforms are making false claims. Currently, only four platforms are included on this list.
The four companies are HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Securities.
She emphasized that platforms not yet holding formal licenses remain unregulated, and cautioned against creating a false sense of security among investors.
Leung urged investors to stay vigilant, noting that scams can be difficult to identify in advance—especially those promising high returns from virtual asset trading platforms.
It is reported that the SFC officially implemented a new virtual asset trading platform regime in June this year, requiring all platforms operating in Hong Kong to apply for licenses. However, a 12-month transitional period has been provided to allow platforms already operating in Hong Kong before the new regime to transition into the new licensing system. The SFC has repeatedly stressed that platforms failing to meet the requirements under the new regime will be in breach of regulations.
