Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts - The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its [Suspected Unauthorized CIS Alert List] on the same day. The LABS token, issued by the LABS Group, allows for fractional investments into real estate projects. - According to a SFC news release, CIS — or investment products of a collective nature — offered to...