The Hong Kong Securities and Futures Commission (SFC) has issued a warning against StableStock and HabitTrade, highlighting that neither platform holds a license to operate in Hong Kong. The SFC's notice follows reports of misleading online videos suggesting that StableStock allows the use of virtual currencies for subscribing to Hong Kong IPOs, and claims of collaboration with HabitTrade. Both platforms have been added to the SFC's warning list, as they are not authorized to engage in regulated activities or promote their services to the Hong Kong public. The SFC cautions investors that unlicensed platforms are not subject to regulatory oversight, which significantly limits investor protection and increases the risk of total financial loss.