PANews reported on December 16 that the Hong Kong Securities and Futures Commission (SFC) has added the "Hong Kong Stablecoin Exchange" to its list of suspicious virtual asset trading platforms. The SFC stated that the entity claims to operate a virtual asset trading platform and is suspected of engaging in unlicensed activities or fraudulent activities related to virtual assets. The entity also falsely claims to be "jointly established by the Hong Kong Stock Exchange, the Stock Exchange of Hong Kong, and the Futures Exchange of Hong Kong," when in fact it has no connection with any of the three exchanges.