Breaking: JPEX Shuts Down Trading Amid Hong Kong Probe, One Celebrity Arrested in This Matter


18 Sep 2023 5:40 AM

As reported last week, the Securities and Futures Commission (SFC) in Hong Kong has raised grave concerns about crypto platform JPEX, which has been...

  • The Securities and Futures Commission (SFC) in Hong Kong has raised concerns about crypto platform JPEX, which is operating without a license.
  • JPEX has suspended some trading activities and is working to address liquidity issues with third-party market makers.
  • The Hong Kong police are conducting an investigation based on the SFC's referral, and there have been 83 complaints involving HK$34 million related to JPEX.
  • The platform has faced controversy over increased withdrawal fees and unaccounted staff at its Singapore booth.
  • Hong Kong social media celebrity Lam Zuo has been arrested for promoting JPEX.
  • The situation highlights the growing regulatory scrutiny of the crypto industry.

The article highlights concerns and controversies surrounding JPEX, indicating a negative sentiment towards the platform and the crypto industry's regulatory challenges.

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You May Ask

What are the concerns raised by the Securities and Futures Commission (SFC) about JPEX?How has JPEX responded to the investigation and what impact does it have on users?What are the controversies surrounding JPEX, including withdrawal fees and staff issues?Who has been arrested in connection with promoting JPEX, and what does it imply for the platform's future?How does this situation reflect the regulatory scrutiny faced by the cryptocurrency industry?

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