Hong Kong Investment Commission: “Virtual Assets” Beware of the Risks of Unlicensed and Overseas Trading Platforms

July 3 (Cointime) -"Virtual Assets" beware of the risks of unlicensed and overseas trading platforms. The CSRC has not approved any virtual asset trading platform to provide services to retail investors. Most of the platforms that the public has access to are unregulated and have high potential risks. These platforms may lack transparency, operate in an unstable manner, and investors may have no security. If there is a dispute with the platform, there is no way to complain and the CSRC cannot provide assistance. Overseas trading platforms may be lightly regulated and have no investor protections. The cross-border nature makes claims difficult, and local police and regulators are unable to help.

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