TechFlow reported on July 15 that, according to Cointelegraph, the Hong Kong Securities and Futures Commission (SFC) has issued a warning stating that seven cryptocurrency trading platforms are operating illegally without proper licenses. Since January 2020, the SFC has maintained a warning list, which currently includes 39 entities, with 28 of them added in 2024 alone.
The latest exchanges added to the list are Taurusemex, Yomaex, Bitones.org, BTEPRO, CEG, XTCQT, and Bstorest. These platforms are suspected of fraudulent activities, such as blocking withdrawals and demanding payments of "fees" to restore access. The SFC requires all cryptocurrency exchanges to apply for licenses by May 31 or cease operations.
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