The Hong Kong Securities and Futures Commission (SFC) issued an announcement today on its official website and WeChat account, reminding the public that StableStock and HabitTrade allow subscription to Hong Kong stock IPOs using cryptocurrency, but neither institution holds the relevant licenses. Recently, the Hong Kong IPO market has been doing well because of its low entry threshold and support for stablecoins. A lot of people around me have been drawn to StableStock. Looks like this wave might have disrupted the traditional brokers' business and got reported. Checked the relevant regulations—if they really pursue accountability, the penalties won’t be light.