JPEX crypto alternate shuts buying and selling amid regulator probe | Digital Noch

JPEX crypto alternate shuts buying and selling amid regulator probe | Digital Noch

Dubai-based cryptocurrency alternate JPEX is shutting buying and selling on its platform amid a probe by the Hong Kong’s Securities and Futures Fee that stated the agency was working as an unlicensed entity, in keeping with media stories

See associated article: Hong Kong Web3 trade kinds new associations to push crypto hub ambition

Quick details

  • 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 not less than 83 complaints in regards to the alternate, in keeping with a South China Morning Put up report Monday.
  • Hong Kong police arrested influencer Joseph Lam Chok Monday in reference to cryptocurrency buying and selling platform JPEX, in keeping with media stories
  • Hong Kong has been welcoming investments from digital property corporations and has set out new guidelines for the trade as the town goals to develop into a world hub for digital property. 
  • It permits licensed cryptocurrency buying and selling platforms to supply providers to retail buyers 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 | Half 1

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