ChainCatcher news, according to Jin Shi Data reports, the Executive Director of the Intermediary Institutions Department of the Hong Kong Securities and Futures Commission, Ye Zhiheng, stated that some companies have recently been using the application for stablecoin licenses as a pretext to inflate stock prices. Investors should remain rational and be vigilant against related fraud.

He revealed that in the first half of this year, there were 265 complaints regarding virtual asset transactions, mainly involving overseas fraud, platform violations, or frozen funds, and warned about the risks of trading on unlicensed platforms.