2024-03-18
Bybit, a cryptocurrency platform, has been flagged by Hong Kong's Securities and Futures Commission (SFC) for operating as an unlicensed virtual goods trading platform (VATP).
The Hong Kong regulatory authority informed investors and advised the public not to pay attention to unlicensed sites such as Bybit.
The Securities and Futures Commission also warned investors that they could lose their investments if unlicensed sites cease to exist, go bankrupt or misappropriate their assets.
Bybit faces consequences if it continues to target investors in the region without proper authorization. The SFC has also advised the public to avoid unlicensed platforms like Bybit to prevent potential losses or legal issues.
