Hong Kong’s Securities and Futures Commission (SFC) has halted Black Cell Technology Limited from issuing its initial coin offering (ICO) in Hong Kong. Black Cell has agreed to distribute refunds to Hong Kong-based investors.
Black Cell ICO Halted in Hong Kong
Hong Kong’s SFC has ordered Black Cell to cease offering its ICO to investors based in the autonomous Chinese territory. The SFC has expressed “concerns that Black Cell had engaged in potential unauthorized promotional activities and unlicensed regulated activities.”