On June 23, the Securities and Futures Commission (SFC) of Hong Kong announced that it had added Aurum/Aurum Foundation (Aurum Foundation) to the list of suspicious virtual asset trading platforms. The SFC said the company claims it has registered in Hong Kong under Hong Kong’s Companies Ordinance and offers trading services for virtual assets, futures contracts, and derivative instruments on its website, but the company has not been licensed by the SFC and is suspected of conducting unlicensed activities.
Hong Kong SFC: Aurum Foundation (Aurum) Not Licensed, Suspected of Unlicensed Virtual Asset Trading Activities
(Source: SFC website)
According to the SFC’s official announcement, the suspected unlicensed activities of Aurum Foundation (Aurum Foundation) cover the following: providing virtual asset, futures contract, and derivative instrument trading services on its website; claiming to have made business registration in Hong Kong under the Companies Ordinance; but not having obtained any license issued by the SFC, nor authorization from any licensed institution. The SFC’s statement aims to remind the public of the legal and financial risks that may arise from trading with unlicensed entities.
Aurum Foundation’s Business Model: Referral-based “Digital Income” Rewards
Based on the description in the report, Aurum Foundation is positioned as a fintech platform that integrates an AI-driven financial system, algorithmic trading, cryptocurrency trading services, and new banking services. The company is led by Bryan Benson (former Binance director) as CEO, and claims to connect traditional banks and digital assets through algorithmic trading, payment cards, and ecosystem tokens.
The platform relies heavily on community participation, offering referral-based rewards or a “digital income” model, and operating globally, with additional business licenses in Dubai. The above description comes from the report and is not an SFC official allegation.
ASIC Historical Warning: Aurum International Management Had Been Listed on the Prohibited Trading Companies List
(Source: Australia government MoneySmart website)
According to information on the Australian government MoneySmart website, “Aurum International Management” was once listed on ASIC’s “prohibited trading companies” list, which has now lapsed. MoneySmart’s website warns: the company has no operating license in Australia, and previously proactively called or sent emails to pitch investments, financial advice, credit, or loan services; it does not hold an Australian financial services license or a credit license issued by ASIC, and it has not been authorized by any licensed institution.
MoneySmart’s latest warning is independent of ASIC’s lapsed list and represents the current regulatory reminder stance.
Frequently Asked Questions
What are the legal effects of the SFC listing Aurum as a suspicious platform?
According to the SFC’s statement, Aurum Foundation (Aurum Foundation) is not licensed by the SFC and is suspected of engaging in unlicensed activities. The SFC has added it to the list of suspicious virtual asset trading platforms to remind the public of related risks. In Hong Kong, providing regulated virtual asset trading services to the public requires SFC approval; unlicensed entities carrying out such activities may face criminal prosecution.
Are Aurum Foundation’s business licenses in Dubai and the SFC warning in Hong Kong contradictory?
According to reports, Aurum Foundation has additional business licenses in Dubai, but this cannot replace the SFC license it needs to conduct regulated activities in Hong Kong. Regulatory licenses are independent across jurisdictions; holding a license in one region does not automatically grant the right to operate legally in another region. The SFC’s warning specifically targets its activities within Hong Kong.
What does the lapsed ASIC “prohibited trading companies” list in Australia mean?
According to the explanation on the Australian government MoneySmart website, ASIC’s prohibited list has now lapsed, meaning the list is no longer an official record of current prohibitions. However, the MoneySmart website still retains the relevant warnings, reminding the public that “Aurum International Management” has no operating license in Australia. The lapsed list reflects past regulatory action records; the current compliance status needs to be checked directly with ASIC.
