According to TechFlow, on July 25, the Securities and Futures Commission (SFC) of Hong Kong warned the public to beware of an unlicensed virtual asset trading platform called "CoinUnited.io". The platform claims to provide cryptocurrency, stock, index, foreign exchange and commodity trading services, and has claimed to have a flagship store and recruit in Hong Kong, but has never been licensed or applied for any license by the SFC.

Under the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, it is illegal to operate regulated activities and provide virtual asset services without a license in Hong Kong. The SFC has included CoinUnited.io and its related websites in the warning list of suspicious virtual asset trading platforms, and once again reminded investors not to trade on unregulated platforms to prevent possible investment losses.