Japanese crypto exchange JPEX to pause interest rewards as partners freeze funds


17 Sep 2023 11:00 PM

The Japan-based crypto exchange JPEX said that it will suspend another feature at the start of the week, according to an announcement on Sept. 17....

  • Japan-based crypto exchange JPEX will pause its Earn Trading feature, delisting all transactions on Sept. 18.
  • The service halt does not apply to all trading on JPEX, contrary to a report from the South China Morning Post.
  • Complaints from Hong Kong authorities have led JPEX's third-party market maker partners to freeze funds, resulting in reduced liquidity, higher operating costs, and operational difficulties.
  • JPEX is working with its partners to restore liquidity but has not provided further details.
  • JPEX has faced regulatory concerns, including complaints from the Hong Kong Securities and Futures Commission (SFC) regarding its practices and alleged lack of licenses.
  • The SFC's complaints extend beyond JPEX's interest-bearing services, including issues with customer withdrawals and falsified partnerships.

The article highlights the challenges faced by JPEX, including the pause of its Earn Trading feature, complaints from Hong Kong authorities, frozen funds, reduced liquidity, and regulatory concerns. The overall sentiment is negative, as the exchange is facing operational difficulties and regulatory scrutiny.

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You May Ask

What feature is JPEX pausing and when?Does the service halt apply to all trading on JPEX?What led to reduced liquidity and operational difficulties at JPEX?How is JPEX addressing the complaints from Hong Kong authorities?What are the regulatory concerns raised by the Hong Kong Securities and Futures Commission (SFC) regarding JPEX?

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