Hong Kong Regulator Monitors JPEX Since March 2022
Key Points:
- Hong Kong SFC condemns JPEX for breaching confidentiality rules, leading to its inclusion on the regulator’s blacklist.
- JPEX never applied for an SFC license; no entities under JPEX Group hold licenses for virtual asset exchanges in Hong Kong.
- The incident sparks fraud suspicions, prompting the SFC to involve the police in an ongoing investigation.
Hong Kong Securities and Futures Commission (SFC) has issued a stern statement regarding JPEX, a virtual asset trading platform, citing questionable operations, and false and misleading statements.
The SFC expressed deep regret over JPEX’s violation of confidentiality provisions, disclosing confidential communications between the platform and the SFC’s Division of Enforcement.
JPEX, once a player in the virtual asset trading arena, has abandoned its supervisory responsibilities, raising concerns since March 2022. The China Securities Regulatory Commission has been closely monitoring JPEX and has initiated investigations into alleged false and insincere disclosures made by the platform.
The SFC’s frustration with JPEX’s lack of cooperation and substantive response to its inquiries has led to decisive action. The platform is now slated to be added to the Securities Regulatory Commission’s list of unlicensed companies and suspicious websites in July 2022.
The disclosure of confidential communications on JPEX’s website has serious implications, as these communications were a part of the SFC’s ongoing inquiries and investigations into JPEX. The SFC has made it clear that JPEX has never applied for a license with them, nor have any entities associated with the JPEX Group been granted licenses to operate a virtual asset exchange in Hong Kong. There has been no official communication between the Securities Regulatory Commission and JPEX regarding licensing matters.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Hong Kong Regulator Monitors JPEX Since March 2022
Key Points:
- Hong Kong SFC condemns JPEX for breaching confidentiality rules, leading to its inclusion on the regulator’s blacklist.
- JPEX never applied for an SFC license; no entities under JPEX Group hold licenses for virtual asset exchanges in Hong Kong.
- The incident sparks fraud suspicions, prompting the SFC to involve the police in an ongoing investigation.
Hong Kong Securities and Futures Commission (SFC) has issued a stern statement regarding JPEX, a virtual asset trading platform, citing questionable operations, and false and misleading statements.
The SFC expressed deep regret over JPEX’s violation of confidentiality provisions, disclosing confidential communications between the platform and the SFC’s Division of Enforcement.
JPEX, once a player in the virtual asset trading arena, has abandoned its supervisory responsibilities, raising concerns since March 2022. The China Securities Regulatory Commission has been closely monitoring JPEX and has initiated investigations into alleged false and insincere disclosures made by the platform.
The SFC’s frustration with JPEX’s lack of cooperation and substantive response to its inquiries has led to decisive action. The platform is now slated to be added to the Securities Regulatory Commission’s list of unlicensed companies and suspicious websites in July 2022.
The disclosure of confidential communications on JPEX’s website has serious implications, as these communications were a part of the SFC’s ongoing inquiries and investigations into JPEX. The SFC has made it clear that JPEX has never applied for a license with them, nor have any entities associated with the JPEX Group been granted licenses to operate a virtual asset exchange in Hong Kong. There has been no official communication between the Securities Regulatory Commission and JPEX regarding licensing matters.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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