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News Explorer — Floki Blocks Hong Kong Users From Accessing Staking Programs

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Jan 30, 11:00 am
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Floki Blocks Hong Kong Users From Accessing Staking Programs

Floki Inu has blocked users in Hong Kong from accessing its staking programs after the local regulator flagged them as "suspicious investment products." The move comes after the Securities and Futures Commission of Hong Kong issued a warning about the high annualized return targets of 30% to over 100% offered by the staking programs. The Floki team defended the high APY, stating that it is due to allocating the majority of TokenFi's token supply to stakers.

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