SFC Hong Kong warns unlicensed cryptocurrency trading platforms

2025-12-25 03:44:16

Abstract generation in progress

The Hong Kong Securities and Futures Commission (SFC) has added Globiance X Limited and Globiance HK Limited to the list of suspicious virtual asset trading platforms since December 24th, citing unlicensed operations. These two organizations are believed to be associated with the website globiance.com and are accused of promoting and operating cryptocurrency trading services in Hong Kong without proper regulatory approval.

This move indicates the increasing scrutiny of the SFC over the cryptocurrency sector, amid growing concerns about investor protection. Reports have indicated that some users are experiencing difficulties withdrawing assets, raising further questions about the reliability and transparency of these platforms’ operations.

The SFC emphasizes that this action aims to protect investors from fraud and financial losses from unlicensed entities, and advises investors to avoid any virtual asset trading platforms without official approval.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.