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Hong Kong SFC's Ye Zhiheng: Beware of Stablecoin Hype, High Risks on Unlicensed Trading Platforms

Summary: According to Jinshi data, Ye Zhiheng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, warned investors to stay rational amidst companies inflating stock prices under the guise of applying for stablecoin licenses. He revealed receiving 265 complaints related to virtual asset trading in the first half of this year, ...

According to Jinshi data, Ye Zhiheng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, warned investors to stay rational amidst companies inflating stock prices under the guise of applying for stablecoin licenses. He revealed receiving 265 complaints related to virtual asset trading in the first half of this year, mainly involving overseas fraud, platform infringements, or frozen funds, and cautioned against the risks of trading on unlicensed platforms.

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Link: Hong Kong SFC's Ye Zhiheng: Beware of Stablecoin Hype, High Risks on Unlicensed Trading Platforms [Copy]

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