Bybit and 11 of its products flagged as 'suspicious' by Hong Kong regulator
Dubai-based derivatives exchange Bybit and 11 of its products have been listed as ‘suspicious’ by Hong Kong ’s market regulator . The country’s Securities and Futures Commission (SFC) added Bybit to its ‘Suspicious Virtual Asset Trading Platforms Alert List’ on Thursday. At the same time, it added a number of the company’s products , including ‘Futures Contracts and Inverse Futures Contracts,’ ‘ Bybit Leveraged Tokens,’ and ‘ Bybit Wealth Management’ to its ‘Suspicious Investment Products Alert List.’ In a statement, the SFC said, “The SFC is concerned that these products have also been offered to Hong Kong investors and wishes to make it clear that no entity in the Bybit group is licensed by or registered with the SFC to conduct any ‘regulated activity’ in Hong Kong.” It added that it “will not hesitate to take enforcement action against unlicensed activities where appropriate.” This month, the SFC also issued warnings about Hong Kong-headquartered ex...