The Securities and Futures Commission of Hong Kong has listed "Hong Kong Stablecoin Exchange" as a suspicious virtual asset trading platform.

The website of the Hong Kong Securities and Futures Commission shows that on December 15, the Hong Kong Securities and Futures Commission included the "Hong Kong Stablecoin Exchange" in the list of suspicious virtual asset trading platforms. The Hong Kong Securities and Futures Commission stated that the entity claimed to be a virtual asset trading platform operating on the website in question, suspected of conducting unlicensed activities/engaging in virtual asset-related fraudulent activities. The entity falsely claimed to have been jointly established by the three major exchanges in Hong Kong, namely HKEX, HKFE, and HKFE, when in fact it had no connection with any of them.