Hong Kong authorities have restricted the operation of Floki Inu staking programs

Hong Kong's Securities and Futures Commission (SFC) considers Floki Staking Program and TokenFi Staking Program too risky for investors. The SFC has warned that it has not granted permission to offer services to residents of this Chinese region..

The distributors of these investment programs did not provide convincing evidence of the possibility of obtaining the declared high profits.

The Floki Staking Program website promises an annual rate for staking the FLOKI token ranging from 23.78% to 78.1%, depending on the blocking time (from three months to four years) and the selected network (Ethereum or BNB Chain). The TokenFi Staking Program has a similar annual staking rate in terms of interest. 2.5 trillion FLOKI out of all 10 trillion coins are currently locked in staking.

The SFC believes that staking of digital assets is an unauthorized group investment scheme, the participants of which risk losing their funds. Officials stress that investors should be extremely wary of programs offering such excessive returns..

Immediately after the Commission added investment programs to the list of questionable ones, an announcement appeared on both sites stating that the programs are currently not available to Chinese citizens living in Hong Kong. Previously, Dogecoin and Floki coins increased in price amid the launch of the XPayments Twitter account.