The Securities and Futures Commission (SFC) of Hong Kong has issued a warning related to suspected fraud involving crypto entities Hong Kong Digital Research Institute and BitCuped.
In a Dec. 6 notice, the SFC said the Hong Kong Police Force had blocked access to the websites of BitCuped and Hong Kong Digital Research Institute — also known as HongKongDAO — claiming users could be fooled into making illegitimate investments. The regulator also issued cease-and-desist letters to the firms’ website operators.
“The SFC suspects HongKongDAO may be disseminating false and misleading information about itself and its business through online channels,” said the Dec. 6 notice. “The SFC notes that BitCuped claims on its website that ‘Laura Cha’ and ‘Nicolas Aguzin’ serve as its Chairman and Chief Executive Officer respectively, when in fact none of them has any affiliations with BitCuped.”
According to the SFC, the “misleading” information related to HongKongDAO could encourage individuals to believe its services were “properly licensed and legitimate” and invest in the HKD token. The securities regulatory added that Cha and Aguzin were executives with the Stock Exchange of Hong Kong rather than connected to BitCuped.
In October, the SFC announced it planned to update its policies on digital currency sales and requirements, citing market developments and industry feedback. Starting in June 2024, exchanges operating within Hong Kong must have a virtual asset service provider license with the SFC.
Residents who live near newly installed pylons will be compensated with £250-a-year off their energy bills, a minister has said.
Housing and planning minister Alex Norris told Sky’s Wilfred Frost on Breakfast that communities “need to share the benefits” of the government’s tilt towards clean energy.
“If you’re making that sacrifice of having some of the infrastructure in your community, you should get some of the money back,” he said.
“So we’re making that commitment – £250-a-year if you are near those pylons.
“We think that’s a fair balance between people who are making that commitment to the country… they should be rewarded for that.”
Image: People living near power infrastructure could get hundreds of pounds off their bills a year as part of an overhaul of planning rules. File pic: PA
Ministers are currently pushing through an overhaul of the planning system – long seen as a brake on housebuilding and vital infrastructure projects – to stimulate growth in the economy.
Overnight it was announced parts of the planning system could be stripped away as part of the government’s attempts to speed up house building.
In its election-winning manifesto, Labour promised to build 1.5 million new homes over the next five years to tackle the lack of affordable housing, with recent statistics showing that there are 123,000 households in temporary accommodation – including nearly 160,000 children.
Sir Keir Starmer has repeatedly vowed to put “builders not blockers first”, announcing at the beginning of the year “unarguable cases” that are legally challenged will only be able to be brought back to the courts once – rather than the current three times.
Under the reforms announced last night, consulting bodies such as Sport England, the Theatres Trust and the Garden History Society will no longer be required for those looking to build under the new plans being considered by ministers.
While consultees will not be completely removed from the process, it will no longer be mandatory for builders to receive the opinion of such bodies and their scope will be “narrowed to focus on heritage, safety and environmental protection”, according to the government.
It is hoped the slimming down of the process will reduce waiting times for projects.
Mr Norris said the interjections of official bodies in planning decisions was causing a “bottleneck” in granting applications.
“I think viewers might be surprised to hear that there are two dozen-plus organisations that have to be consulted on planning applications – that’s providing a bit of a bottleneck, often not getting back in time,” he said.
He said that while members of Sport England were “fine people”, there was a case where the body held up the development in Bradford next to a cricket pitch.
“The hold up is around a disagreement on the speed at which cricket balls are hit,” he explained.
“So Sport England are querying the modelling of the speed at which the balls will be hit, and that, as a result, has meant that the whole process is now multiple years down the line, and there’s no build out.”