Floki Ceases Staking Program Following Hong Kong Regulator Scrutiny

By: Eva Baxter

In response to increasing regulatory oversight, Floki has temporarily suspended its staking program in Hong Kong. The Securities and Futures Commission in Hong Kong has recently marked Floki's staking initiatives as 'suspicious investment products', triggering the decision.

While the team plans on adhering to the regulator's recommendations, this move signifies a shift in Hong Kong's approach towards cryptocurrency activities. The Floki team has not explicitly commented on the issue but is expected to comply with the authorities and take necessary actions.