Floki Inu Halts Staking in Hong Kong Following Regulatory Warning

Despite the Securities and Futures Commission's concerns over 'suspicious investment products,' Floki Inu's token prices remain unaffected.

Floki Inu has halted its staking programs in Hong Kong following a warning from the local regulator, the Securities and Futures Commission (SFC), which flagged them as 'suspicious investment products.'
The SFC's concerns were primarily due to the high annualized return targets of 30% to over 100% offered by the staking programs.
Floki Inu responded by stating that the high APY for its staking programs is due to allocating the majority of TokenFi’s token supply to token stakers, as the project has not raised VC funds or conducted a presale.
The Floki team has taken measures to block users in Hong Kong from accessing its staking programs and has placed warnings on its websites.
Despite the regulatory warning, the price of Floki Inu's tokens has not been negatively impacted.