According to Hong Kong Economic Daily, the Hong Kong Securities and Futures Commission (SFC) has warned the public to beware of unlicensed virtual asset trading platforms Globiance X Limited / Globiance HK Limited and CoinCola. The aforementioned organizations claim to operate virtual asset trading platforms in Hong Kong but do not hold SFC licenses, suspected of engaging in unlicensed activities; the SFC has listed them and related websites on its warning list.
The SFC also stated that some investors have reported difficulties in withdrawing assets from Globiance-related platforms and reminded the public that unlicensed platforms are not regulated, offering limited investor protection and potentially risking full loss of funds.
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According to Hong Kong Economic Daily, the Hong Kong Securities and Futures Commission (SFC) has warned the public to beware of unlicensed virtual asset trading platforms Globiance X Limited / Globiance HK Limited and CoinCola. The aforementioned organizations claim to operate virtual asset trading platforms in Hong Kong but do not hold SFC licenses, suspected of engaging in unlicensed activities; the SFC has listed them and related websites on its warning list.
The SFC also stated that some investors have reported difficulties in withdrawing assets from Globiance-related platforms and reminded the public that unlicensed platforms are not regulated, offering limited investor protection and potentially risking full loss of funds.