According to Media OutReach, the encrypted social investment platform Kikitrade announced that it will suspend the provision of flexible savings and locked-in savings products for Hong Kong users starting December 30, 2022, in response to the Hong Kong Securities and Futures Commission (SFC)'s regulation of digital token assets. The company's other services will not be affected. Sean Tao, co-founder and CEO of the company, revealed that they are currently communicating with the Hong Kong Securities Regulatory Commission, adjusting services and making commitments to users in order to comply with applicable laws and regulations when conducting business, and are committed to applying for licensed virtual assets trading platform. Foresight News previously reported that Kikitrade, an encrypted currency social investment platform, completed a $6 million financing in April this year, led by AppWorks and Media Asia.