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Hong Kong SEC Flags Two Virtual Asset Funds as Suspicious Investments

The Securities and Futures Commission has added 9M AI Group Inc., marketing under 9M AI, to its warning list as an unlicensed platform targeting local investors.

VIRTUAL

Summary

Hong Kong’s Securities and Futures Commission (SFC) has listed 9M AI Group Inc., also referred to as 9M AI, as a suspicious virtual asset trading platform. The regulator states the firm is unlicensed but has been promoting its services to Hong Kong investors. This follows earlier additions of 9M AI Stable Fund and 9M AI Strategy Fund, along with related websites, to the SFC’s warning list due to questionable investment claims and use of virtual asset strategies. The move continues the SFC’s efforts to alert the public to potential investor risks in unregulated crypto-related activities.

Terms & Concepts
  • Virtual Asset: A digital representation of value that can be traded, transferred, or used for payment, commonly including cryptocurrencies.
  • Securities and Futures Commission (Hong Kong): The financial regulator of Hong Kong responsible for overseeing securities and futures markets to protect investors.
  • Suspicious Investment Product List: An official registry maintained by regulators highlighting products suspected of illegal activity or investor risk.