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The Hong Kong Securities and Futures Commission (SFC) has issued a public warning against Bybit, the third largest offshore exchange it has included on its warning list.
The move is unusual as Bybit's Hong Kong unit is currently in the process of applying for a license.
Bybit offers trading services in crypto-related products in various jurisdictions. SFC has expressed concerns about these products which include Bybit Futures Contracts, Inverse Futures Contracts, Options, Leveraged Tokens, Binary Assets, Binary Assets 2.0, Shark Fin, Liquidity Mining, ETH 2.0 Liquid Staking, Web3 Staking, Lending and Asset Management .
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The SFC clarified that no entities within the Bybit group are licensed or registered to carry out any “regulated activities” in Hong Kong. In Hong Kong, crypto-related products can be classified as “futures contracts” or “securities” under the Securities and Futures Ordinance (SFO).
According to the official announcement, trading and/or marketing these products, whether in Hong Kong or aimed at Hong Kong investors, constitutes a “regulated activity” and requires a license from the SFC unless an exemption applies.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/mirror-of-china-hong-kong-issued-a-stern-warning-about-one-of-the-most-popular-cryptocurrency-exchanges/" rel="noopener noreferrer nofollow">“Mirror of China” Hong Kong Issued a Stern Warning About One of the Most Popular Cryptocurrency Exchanges</a>

“Mirror of China” Hong Kong Issued a Stern Warning About One of the Most Popular Cryptocurrency Exchanges

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