JPEX in disarray after Hong Kong’s regulators initiate probe


18 Sep 2023 12:00 PM

JPEX exchange has halted trading due to the liquidity crisis caused by the ...

  • Hong Kong's regulator issued a warning about JPEX operating without regulatory approval.
  • JPEX has fallen into disarray and halted trading on its Earn Trading interface.
  • The exchange raised withdrawal fees and blamed a liquidity shortage caused by market makers.
  • JPEX plans to restructure as a decentralized autonomous organization (DAO).
  • Hong Kong police received 83 complaints involving JPEX worth $4.3 million.
  • A social media influencer associated with JPEX was arrested, and JPEX abandoned its booth at a conference.
  • JPEX had not applied to run a regulated virtual asset trading platform.
  • JPEX's website is currently inaccessible.

The article highlights the controversy surrounding JPEX and its operations in Hong Kong, with negative sentiment towards the exchange due to its lack of regulatory approval, disarray, and complaints.

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You May Ask

What warning did Hong Kong's regulator issue about JPEX?Why did JPEX halt trading on its Earn Trading interface?What did JPEX blame for the liquidity shortage and raised withdrawal fees?What action did JPEX plan to take to involve users in decision-making?How did the Hong Kong police respond to complaints involving JPEX?

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