Hong Kong Securities and Futures Commission: Beware of StableStock and HabitTrade, platforms claiming that virtual currencies can be used to subscribe to Hong Kong IPOs.

According to Mars Finance, on May 8th, the Hong Kong Securities and Futures Commission (SFC) issued a warning, adding two unlicensed platforms, StableStock and HabitTrade, to its warning list. The SFC stated that online videos were enticing the public to use the StableStock platform, which claimed to allow users to subscribe to Hong Kong IPOs using virtual currencies and to advertise a partnership with HabitTrade. The SFC pointed out that neither institution is licensed by the SFC and is prohibited from engaging in any regulated activities in Hong Kong or promoting services to the public.