The Hong Kong Securities and Futures Commission (SFC) has issued a critical warning regarding the unlicensed trading platform BiyaPay, highlighting the potential dangers for investors. According to the assessment of specialists presented in the publication, this alert comes as the SFC continues to monitor and regulate the trading landscape in Hong Kong.
SFC Adds BiyaPay to Alert List
On September 25, 2025, the SFC added BiyaPay to its Alert List after identifying the platform through social media monitoring. The platform claims to provide trading services for Hong Kong and US stocks, yet operates without the necessary regulatory approval from the SFC. This lack of licensing raises significant red flags for potential investors, who are urged to exercise caution.
Risks of Engaging with Unlicensed Platforms
The SFC emphasized that engaging with unlicensed platforms like BiyaPay exposes investors to substantial risks, including the possibility of total financial loss. Furthermore, the absence of any public response from BiyaPay, along with the silence from major market influencers, has intensified concerns regarding the platform's credibility and operational legitimacy.
As the regulatory landscape for cryptocurrency continues to develop, recent events in Canada, particularly concerning FedMining's security measures, have brought to light the urgent need for comprehensive regulations in the industry. Earlier reports highlighted significant challenges, including the seizure of over 56 million CAD from TradeOgre, which emphasizes the necessity for stringent security protocols across exchanges. This situation mirrors the complexities faced in Australia, where ASIC's new framework aims to enhance investor protection and trust in the market. For further details on these pressing regulatory challenges, read the full article here.
