Hong Kong Securities and Futures Commission: Beware of the unlicensed trading platform named "BiyaPay"

ChainCatcher message, the Hong Kong Securities and Futures Commission warns the public to be cautious of an unlicensed trading platform named "BiyaPay." This platform claims to offer stock trading services for Hong Kong and the United States and has an office in Hong Kong, but it has never been licensed by the Securities and Futures Commission and has never applied for any license from the Commission.

According to Hong Kong law, operating securities trading without a license or promoting related services to Hong Kong investors is illegal. The Commission discovered "BiyaPay" through its social media monitoring platform and noted that the Hong Kong public can access platform information and register accounts through BiyaPay's official website and its social media accounts. The Commission has placed this platform on its warning list.

The Commission reminds you: Since this platform is not regulated by the Commission, the protection for investors is very limited, and they may even suffer total losses. Investors are advised to think carefully before investing.