Hong Kong Securities and Futures Commission: Be wary of unlicensed platforms StableStock and HabitTrade.

CoinFeed reported on May 8th that the Hong Kong Securities and Futures Commission (SFC) issued a notice disclosing that it has noticed online videos enticing the public to use the StableStock platform, claiming that virtual currencies can be used to subscribe to Hong Kong IPOs. StableStock also claimed to be partnering with another company, HabitTrade. In fact, neither StableStock nor HabitTrade are licensed by the SFC and are prohibited from engaging in any regulated activities in Hong Kong; furthermore, they are prohibited from promoting their services to the Hong Kong public, whether within or outside Hong Kong. The SFC has added StableStock and HabitTrade to its warning list. The SFC reminds the public that unlicensed platforms are not regulated by the SFC, and investors receive very limited protection, potentially suffering total loss.