Hong Kong Regulator Takes Action Against Crypto Entities about potential fraud

The Securities and Futures Commission (SFC) of Hong Kong has blocked access to the websites of crypto entities Hong Kong Digital Research Institute and BitCuped, citing concerns about potential fraud. The SFC issued a warning, stating that misleading information online could entice individuals to invest in the HKD token issued by HongKongDAO. Cease-and-desist letters were sent to the operators of the firms’ websites. The regulator highlighted suspicions that HongKongDAO may be spreading false and misleading information about itself and its business through online channels.