Floki, facing scrutiny from Hong Kong's Securities and Futures Commission (SFC) over its high-yield staking programs, has defended its strategy and blocked Hong Kong users from participating.

The SFC expressed concerns about the sustainability of the high returns offered by Floki's programs.

In response, Floki explained its high APY approach, emphasising compliance and market-driven rewards.

This situation highlights the ongoing debate in the crypto industry about balancing innovation with regulatory compliance