According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) has released its Q3 2023 report, revealing a quarterly loss of approximately HKD 123 million, compared to a loss of HKD 178 million in the same period last year. The report shows a revenue of HKD 387 million, a year-on-year growth rate of 19.06%, and expenses of HKD 509 million, an increase of 1.32%.
In the virtual asset sector, the SFC has published several lists of virtual asset trading platforms online, including an applicant list and a special list of suspicious virtual asset trading platforms allegedly involved in fraudulent schemes. Currently, there are nine entities on the list. The SFC also approved two licensed exchanges to provide services to retail investors last quarter and has been organizing various outreach initiatives and strengthening investor education to help market participants better understand the new licensing system for virtual asset trading platforms and raise awareness of the risks involved.
The SFC will continue to work on effectively disseminating information to the public to enhance investor education on virtual asset-related risks and potential fraudulent activities, warning the public not to trade on unregulated platforms.