The Hong Kong Securities and Futures Commission (SFC) has issued a warning against the potential for fraudulent stock price manipulation using stablecoin license applications. Ye Zhiheng, Executive Director at the SFC, highlighted that some companies are exploiting this application process to artificially inflate their share prices. Investors are urged to remain vigilant and exercise caution to avoid becoming victims of such scams. The SFC received 265 complaints about virtual asset transactions in early 2025, with a significant number linked to overseas fraud and platform violations. These instances underscore the risks associated with trading on unlicensed platforms as reported by the SFC.