2026-01-07 01:43:23

The Hong Kong Securities and Futures Commission recently imposed penalties on Saxo Financial (Hong Kong) Limited for selling virtual asset funds and related derivatives on online platforms without approval, violating local financial regulatory requirements. This case further highlights the trend of compliance governance in the virtual asset sector—an increasing number of regions and regulatory agencies are strengthening efforts to crack down on unlicensed sales of virtual products. This serves as a reminder to platforms and institutions seeking legal operation: obtaining the necessary regulatory authorization and standardizing product sales channels have become mandatory requirements for industry development. As an international financial center, Hong Kong's regulatory stance often represents the market's development direction.

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DAOplomacy

· 01-09 23:56

ngl the whole "we're cracking down on unlicensed stuff" narrative is getting kinda predictable at this point... but here's the thing—path dependency matters here. once hong kong sets a precedent, everyone else basically has to follow or lose credibility. sub-optimal incentive structures all the way down.

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HodlOrRegret

· 01-08 13:52

Once again, unlicensed sales are being crushed on the ground. This time, Shengbao has no one to blame. Even the Hong Kong SFC has spoken out, yet they still dare to take risks.

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LiquidationWatcher

· 01-07 02:07

ngl this is exactly how positions get rekt... caught between "we're fine bro" and regulators actually doing their job. saxo thought they could just... yolo it? watched this happen before, never ends well

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DataPickledFish

· 01-07 01:47

Sambo's recent fines are well-deserved. Selling virtual products without a license? Still so blatant online, the Hong Kong Securities and Futures Commission is taking serious action. The industry needs a reshuffle; the cycle of bad money driving out good must stop. Being compliant actually puts you at a disadvantage, which is really frustrating. I've said it before—unlicensed institutions will eventually fail. Now, it seems many projects will need to undergo rectification. Hong Kong's stance is clear, and it looks like a wave of regulation is about to roll in... Regulators only realize they need licenses after the hammer comes down, which shows they are slow to react. These platforms should have been cleared out long ago. What can I say? Stricter regulation is the trend, but this kind of blanket approach feels quite harsh. Compliance costs are rising again, making life even harder for small institutions...

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MemeCoinSavant

· 01-07 01:43

lmao saber getting rekt by the sec is basically peer-reviewed confirmation that the compliance thesis is, in fact, statistically significant. number go down when you skip the boring paperwork i guess 📊

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