Hong Kong Securities and Futures Commission: Fraud on virtual asset trading platforms does not mean there are major flaws in supervision

The Hong Kong Securities and Futures Commission included the virtual asset trading platform HOUNAX in the list of "unlicensed companies and suspicious websites" in early November. Chief Executive Officer Liang Fengyi said that the Securities and Futures Commission received the first complaint as early as the end of September and launched an investigation in October. Due to the need for investigation, At that time, it was included in the suspect list on the 1st of this month. The Securities and Futures Commission stated that as of today, it has received a total of 18 complaints about HOUNAX, involving amounts ranging from 12,000 yuan to 10 million yuan. Liang Fengyi said that the methods of scammers on virtual asset trading platforms are consistent with the usual methods of exaggerating bulk commodities in traditional financial market products. Therefore, the existence of fraud does not mean that there are major flaws in supervision. The China Securities Regulatory Commission also continues to pay attention to unlicensed trading platforms operating on social media. Publicity situation. As for whether to shorten the grace period for virtual asset trading platforms to obtain licenses, Liang Fengyi said that even if the grace period ends tomorrow, fraud cases will continue to occur. After balancing various factors, the China Securities Regulatory Commission believes that relevant financial institutions need to be given sufficient time to apply for licenses.