Crypto platform on alert lists opens Hong Kong office, prompting calls for scrutiny
Experts say regulators’ alert listings do not prove wrongdoing, but urge a balance between business openness and scrutiny of firms’ marketing
A cryptocurrency trading platform on Hong Kong and Canadian regulators’ alert lists has opened an office in the city, prompting experts to urge closer scrutiny of how such firms promote themselves without undermining an open business environment.
Experts told the South China Morning Post that inclusion on a regulator’s alert list did not necessarily mean a company had broken the law. But they urged authorities to step up oversight of how such firms marketed regulated financial products.
Polar Tensor, a cryptocurrency investment platform that said it held company registrations in seven jurisdictions, including Hong Kong, Panama and the US states of Montana and Wyoming, opened an office at One Hysan Avenue in Causeway Bay in August.
A source told the SCMP that the platform was being monitored by authorities.
