Hong Kong bans two crypto sites for misleading investors
Hong Kong’s Securities and Futures Commission (SFC) banned the two crypto websites for scamming users. HongKongDAO and BitCuped were blocked after a joint effort of the police and internet providers. The two cases come not long after investors lost over 1.6 billion HKD ($204 million) in JPEX and Hounax. Hong Kong’s Securities and Futures Commission (SFC) has reportedly banned two crypto currency web sites over allegations the site had scammed investors . The South China Morning Post reported on Wednesday that the securities watchdog had blacklisted and blocked access to the HongKongDAO and BitCuped sites after authorities were tipped off that the platforms were misleading investors. HongKongDAO touted “HKD” token According to the SCMP, Hong Kong regulators found that HongKongDAO had hoodwinked users into buying a token dubbed “HKD”. The platform also offered false assurances, lying to users that it had applied for licenc...