Crypto exchange JPEX under police investigation
Police on Friday said they are investigating the cryptocurrency exchange, JPEX, after Hong Kong's securities regulator issued a warning accusing the platform of displaying "suspicious features".  Officers from the Commercial Crime Bureau said they are looking into the case following a referral from the Securities and Futures Commission (SFC).  The SFC said on Wednesday that JPEX had described itself as a "licensed and recognised platform to facilitate the trading of digital asset and virtual currency", when in fact the platform does not have a license to operate in Hong Kong.  Online influencers and over-the-counter virtual asset money changers were making false or misleading statements about JPEX having applied for a license in the city, the SFC added in a statement. In response, JPEX said on Friday that it will adjust some of its business processes in accordance with the directives of the SFC to comply with regulatory norms.  "Users may experience inconvenience due to recent related changes, but please understand that this is to achieve our long-term goal – to build a more secure, reliable, and competitive platform," it said in a press release. "Please rest assured that during the adjustment process, the platform’s trading functions will continue to operate normally."_____________________________
Last updated: 2023-09-15 HKT 21:41 