Dubai-based cryptocurrency change JPEX is shutting buying and selling on its platform amid a probe by the Hong Kong’s Securities and Futures Fee that mentioned the agency was working as an unlicensed entity, in keeping with media reports.
See associated article: Hong Kong Web3 industry forms new associations to push crypto hub ambition
Quick information
- JPEX attributed blame to its “third-party market makers” for freezing funds and proscribing liquidity, after information of investigations by Hong Kong authorities.
- In the meantime, Hong Kong police acquired no less than 83 complaints concerning the change, in keeping with a South China Morning Publish report Monday.
- Hong Kong police arrested influencer Joseph Lam Chok Monday in reference to cryptocurrency buying and selling platform JPEX, in keeping with media reports.
- Hong Kong has been welcoming investments from digital belongings corporations and has set out new guidelines for the trade as the town goals to grow to be a global hub for digital belongings.
- It permits licensed cryptocurrency buying and selling platforms to supply services to retail investors whereas implementing measures to guard particular person merchants.
See associated article: Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
