Hong Kong's Securities and Futures Commission (SFC) adds SBCFX and related companies Star Bridge Capital to its alert list for unlicensed operations
Hong Kong's Securities and Futures Commission (SFC) has placed SBCFX and related entities, including Star Bridge Capital Group, on its alert list for unlicensed operations. This follows reports of significant trading losses tied to SBCFX during a London gold market crash in late August 2026, which reportedly wiped out the USDT-stablecoin accounts of thousands of retail investors.
The SFC warning emphasizes that these entities are neither licensed nor registered to conduct regulated activities in Hong Kong, offering no SFC protections to local clients. While SBCFX cites operating licenses from Australian, South African, and Seychelles regulators, these do not permit operations in Hong Kong.
The incident highlights growing regulatory challenges involving high-leverage algorithmic trading and the use of crypto deposits like USDT in OTC derivatives. The report notes that recovering such stablecoin assets can be particularly difficult, even with issuer intervention, due to the peer-to-peer nature of transactions and blockchain complexities.
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