TechFlow reported, according to The Block, that last Friday the Hong Kong Securities and Futures Commission (SFC) issued a warning against the meme coin Floki, labeling its high-yield staking products as suspicious and unauthorized.
In response, the Floki team stated that it offers high returns by allocating the majority of its token supply to stakers. The current team has taken measures to block users from Hong Kong from accessing the Floki and TokenFi staking programs.
In addition, Floki halted offline marketing activities in Hong Kong prior to its planned launch of the program in December 2023.
Notably, both the Floki staking program and the TokenFi staking program claim annual returns ranging from 30% to over 100%.
Earlier report, Floki expressed regret that the SFC listed its Floki and TokenFi staking programs as suspicious investment products, stating respect for regulators and affirming its commitment to continued cooperation in resolving regulatory matters.
