Hong Kong SFC Warns Against Unlicensed Platform BiyaPay

On September 25th, 2025, the Hong Kong Securities and Futures Commission (SFC) issued a warning against the unlicensed trading platform “BiyaPay,” which lacks regulatory approval in Hong Kong.

The SFC alert emphasizes investor risk, illustrating Hong Kong’s stringent regulatory stance on unauthorized financial services, with implications for investor protection and market integrity.

BiyaPay’s Silence Amid Regulatory Concerns Raises Investor Worries

The SFC has identified BiyaPay through its social media monitoring platform and added it to its “Alert List.” BiyaPay is said to offer Hong Kong and US stock trading services without a license from the SFC. According to the SFC, “BiyaPay claims to offer Hong Kong and US stock trading services…but has never been licensed by or applied for any license from the SFC. The SFC warns that investors have very limited protection and may even suffer total losses.”

Investors accessing BiyaPay’s services may experience severe financial repercussions, including the possibility of total loss due to the platform’s lack of regulation. The SFC is urging individuals to verify the licensure of investment platforms, referring to its Public Register of Licensed Persons before engaging in trades.

BiyaPay has not commented publicly, and there has been no response from major market influencers or crypto leaders. The absence of known leadership and track records for the platform continues to be a cause for investor concern.

Market Data and Insights

Did you know? Hong Kong’s SFC has previously issued similar warnings over unlicensed platforms like HSKEX, which impacted fiat currencies more than digital tokens.

According to data from CoinMarketCap, Ethereum’s (ETH) current price is $3,999.24, reflecting a 4.43% decrease over the last 24 hours. The market cap stands at $482.72 billion, with a 24-hour trading volume of $45.32 billion, indicating heightened market attention.

The Coincu research team notes that unlicensed activities like those of BiyaPay continue to underline the importance of regulatory adherence. These warnings emphasize the need for robust investor protection mechanisms and increased transparency in the financial sector.