Dubai-based cryptocurrency exchange JPEX is shutting trading on its platform amid a probe by the Hong Kong’s Securities and Futures Commission that said the firm was operating as an unlicensed entity, according to media reports.
See related article: Hong Kong Web3 industry forms new associations to push crypto hub ambition
Fast facts
- JPEX attributed blame to its “third-party market makers” for freezing funds and restricting liquidity, after news of investigations by Hong Kong authorities.
- Meanwhile, Hong Kong police received at least 83 complaints about the exchange, according to a South China Morning Post report Monday.
- Hong Kong police arrested influencer Joseph Lam Chok Monday in connection with cryptocurrency trading platform JPEX, according to media reports.
- Hong Kong has been welcoming investments from digital assets companies and has set out new rules for the industry as the city aims to become a global hub for digital assets.
- It allows licensed cryptocurrency trading platforms to offer services to retail investors while implementing measures to protect individual traders.
See related article: Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://forkast.news/headlines/jpex-crypto-exchange-shuts-trading/
- :has
- :is
- a
- About
- According
- After
- aims
- allows
- Amid
- an
- and
- arrested
- article
- AS
- asia
- Assets
- associations
- At
- Authorities
- become
- been
- Bloomberg
- by
- China
- City
- commission
- Companies
- complaints
- connection
- crypto
- crypto exchange
- crypto hub
- cryptocurrency
- Cryptocurrency Exchange
- cryptocurrency trading
- digital
- Digital Assets
- Dubai
- entity
- exchange
- Firm
- For
- forms
- Freezing
- from
- funds
- Futures
- Hong
- Hong Kong
- HTTPS
- Hub
- implementing
- in
- individual
- industry
- influencer
- Investigations
- Investments
- ITS
- JPEX
- jpg
- Kong
- Lam
- least
- Licensed
- Liquidity
- Market
- measures
- Media
- Monday
- morning
- New
- news
- of
- offer
- on
- operating
- out
- part
- platform
- Platforms
- plato
- Plato Data Intelligence
- PlatoData
- Police
- Post
- probe
- protect
- Push
- Race
- received
- regulator
- related
- restricting
- retail
- rules
- Said
- Securities
- Securities and Futures Commission
- Seoul
- set
- Shuts
- Singapore
- South
- that
- The
- to
- tokyo
- Traders
- Trading
- Trading Platform
- Trading Platforms
- was
- Web3
- WEB3 HUB
- Web3 industry
- welcoming
- while
- with
- zephyrnet