{"id":184483,"date":"2023-12-06T19:39:45","date_gmt":"2023-12-06T19:39:45","guid":{"rendered":"https:\/\/precoinnews.com\/?p=184483"},"modified":"2023-12-06T19:39:45","modified_gmt":"2023-12-06T19:39:45","slug":"hong-kong-regulator-blocks-access-to-two-crypto-entities-warning-of-fraud","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/hong-kong-regulator-blocks-access-to-two-crypto-entities-warning-of-fraud\/","title":{"rendered":"Hong Kong regulator blocks access to two crypto entities, warning of fraud"},"content":{"rendered":"<p>The Securities and Futures Commission (SFC) of Hong Kong has issued a warning related to suspected fraud involving crypto entities Hong Kong Digital Research Institute and BitCuped.<\/p>\n<p>In a Dec. 6 notice, the SFC said the Hong Kong Police Force had blocked access to the websites of BitCuped and Hong Kong Digital Research Institute \u2014 also known as HongKongDAO \u2014 claiming users could be fooled into making illegitimate investments. The regulator also issued cease-and-desist letters to the firms\u2019 website operators.<\/p>\n<p>\u201cThe SFC suspects HongKongDAO may be disseminating false and misleading information about itself and its business through online channels,\u201d said the Dec. 6 notice. \u201cThe SFC notes that BitCuped claims on its website that \u2018Laura Cha\u2019 and \u2018Nicolas Aguzin\u2019 serve as its Chairman and Chief Executive Officer respectively, when in fact none of them has any affiliations with BitCuped.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Hong Kong authorities say 145 victims, $18.9M lost in Hounax scam<\/em><\/strong><\/p>\n<p>According to the SFC, the \u201cmisleading\u201d information related to HongKongDAO could encourage individuals to believe its services were \u201cproperly licensed and legitimate\u201d and invest in the HKD token. The securities regulatory added that Cha and Aguzin were executives with the Stock Exchange of Hong Kong rather than connected to BitCuped.<\/p>\n<p>In October, the SFC announced it planned\u00a0to update its policies on digital currency sales and requirements, citing market developments and industry feedback. Starting in June 2024, exchanges operating within Hong Kong must\u00a0have a virtual asset service provider license with the SFC.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Another $18.9M Hong Kong exchange scandal, HTX \u2018sorry\u2019 airdrop: Asia Express<\/em><\/strong><\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/hong-kong-regulator-blocks-crypto-firms\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Futures Commission (SFC) of<\/p>\n","protected":false},"author":3,"featured_media":184482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong regulator blocks access to two crypto entities, warning of fraud - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/hong-kong-regulator-blocks-access-to-two-crypto-entities-warning-of-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong regulator blocks access to two crypto entities, warning of fraud - 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