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SFC Hong Kong's Ye Zhi Heng: Beware of favourable information speculation on stablecoins, high risks of unlicensed trading platforms.
[Hong Kong Securities and Futures Commission's Yip Chi-hang: Beware of favourable information speculation on stablecoins, high risks of unlicensed trading platforms] Yip Chi-hang, Executive Director of the Intermediary Institutions Division of the Hong Kong Securities and Futures Commission, stated that some companies have recently been using the application for stablecoin licenses as a pretext to inflate their stock prices. Investors should remain rational and be alert to related scams. He revealed that in the first half of this year, 265 complaints about virtual asset trading were received, primarily involving overseas fraud, platform violations, or frozen funds, and warned of the risks associated with trading on unlicensed platforms.