Hong Kong’s Regulator Issues a Warning Against HKCEXP
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The Securities and Futures Commission of Hong Kong (SFC) has warned against a suspicious trading platform, HKCEXP, which falsely claims to be registered with the regulator.
HKCEXP is one of the many fake entities posing as legitimate crypto exchanges in Hong Kong, despite the SFC’s efforts to combat them.
The regulator had set a deadline of February 29 for crypto exchanges to apply for an operational license, and received applications from 22 platforms. However, HKCEXP is not one of them as it provided a fake Hong Kong address for registration and charged excessive fees for withdrawals.
The SFC continues to face challenges in dealing with such fake entities in the cryptocurrency industry.
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