HongKongDAOPrice

(HKD)

HongKongDAO, or HKD, is a crypto project that identifies itself as an advanced digital coin operating on a secure platform to facilitate global transactions. The project emphasizes decentralization and aims to democratize financial systems. It has been described as a Web3.0+DAO system built on the Ethereum Network, with the goal of positioning Hong Kong as a leading Web3.0 hub. The HKD token is intended for various uses within its ecosystem, including enabling trading for potential arbitrage, allowing users to earn income through staking, and being utilized in pledging mechanisms, possibly with BNB, for generating BTC. The total supply of the HKD token is stated to be 100 million, reportedly aligning with the population of Hong Kong at the time of its creation, and it operates on the BNB chain. The project communicates with its community through platforms like Telegram. However, the Securities and Futures Commission (SFC) of Hong Kong has issued public warnings regarding HongKongDAO, also known as "Hong Kong Digital Research Institute," due to suspected virtual asset-related fraudulent activities. The SFC, in collaboration with the Hong Kong Police Force, has taken steps to block access to HongKongDAO's websites, citing concerns that individuals could be misled into illegitimate investments. HongKongDAO is suspected of spreading false and misleading information, including claims of having applied for and obtained SFC licenses for regulated activities and bidding for a "Hong Kong Digital Currency Exchange Licence." The SFC has clarified that these claims are untrue and could create a false impression of legitimacy, potentially inducing people to acquire the HKD token. The SFC has also issued cease and desist letters to website operators that were offering the HKD token for purchase. It is important to differentiate HongKongDAO from the official "e-HKD" project, which is a legitimate initiative by the Hong Kong Monetary Authority (HKMA) exploring a central bank digital currency as part of Hong Kong's broader efforts in Web3 and fintech development. While Hong Kong's government supports Web3 ecosystem development with various initiatives, HongKongDAO is not affiliated with these official programs. Learn more

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