Hong Kong SFC Opens Probe Into JPEX Exchange, One Arrested

Crypto Daily
Crypto Daily

18 Sep 2023 8:00 AM

According to reports, the Hong Kong police received 83 complaints about the exchange, which has allegedly been operating without a license....

  • The Hong Kong Securities and Exchange Commission (SFC) has opened a probe into cryptocurrency exchange JPEX, leading to the arrest of one individual.
  • JPEX has been operating without a license and has received numerous complaints.
  • The Securities and Futures Commission warned JPEX for promoting its services without a relevant license.
  • The Hong Kong Monetary Authority warned companies offering cryptocurrency-related services to refrain from identifying themselves as banks.
  • JPEX alleges unfair treatment by institutions in Hong Kong and plans to delist transactions on its Earn Trading interface.

The sentiment in the article is negative, as it highlights the probe, arrest, and allegations against JPEX, as well as the unfair treatment claimed by the exchange.

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You May Ask

What is the reason behind the probe into JPEX by the Hong Kong Securities and Exchange Commission?How has JPEX been operating without a license?What warning did the Securities and Futures Commission issue to JPEX?What warning did the Hong Kong Monetary Authority give to companies offering cryptocurrency-related services?Why does JPEX plan to delist transactions on its Earn Trading interface?

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