Hong Kong to Publish List of Licensed Crypto Platforms After $178M JPEX Scandal

Hong Kong Securities and Futures Commission will publish a list of licensed, closing, and suspicious crypto platforms after JPEX scandal.
JPEX accused of promoting services in Hong Kong without a license, estimated to cause $178M in losses.
11 people including influencers arrested, over 2,200 complaints from affected users.
SFC working with police to establish channel for reporting suspicious crypto activity.
SFC vows to regulate crypto platforms to maintain confidence after risks highlighted by JPEX case.

cointelegraph.com

Relevant topic timeline:

9/22/2023

Hong Kong Police Probe Alleged $166 Million Cryptocurrency Fraud at Unlicensed JPEX Trading Platform

Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of HK$1.3bn ($166m; £134m) in losses, with eleven people, including popular influencers, being arrested in what could be one of Hong Kong's biggest fraud cases as the city positions itself as a global hub for virtual assets.

9/25/2023

Hong Kong Regulator to Publish Crypto Platform License Applicants After Backlash Over JPEX Scandal

Hong Kong's Securities and Futures Commission (SFC) will publish a list of companies that have applied for cryptocurrency trading licenses, following public demand and in response to the backlash over JPEX's unauthorized operations. However, being an applicant does not imply full compliance with SFC regulations.

9/25/2023

Hong Kong Watchdog to Increase Oversight After Crypto Exchange Probe

Hong Kong's Securities and Futures Commission will publish a list of crypto exchange license applicants following the JPEX probe, emphasizing the need for proper regulation to maintain market confidence and protect investors.

10/2/2023

SEC Delays Crypto ETF Approvals While Courts and Regulators Move Forward on Crypto Regulation

The SEC has delayed its decision on spot Bitcoin exchange-traded funds (ETFs), as well as spot Ether ETFs from VanEck, ARK 21Shares, and GlobalX, with applicants now expected to hear back in December and January; Bitwise Asset Management has responded to the delay with an amended application addressing the SEC's objections. In China, the Shanghai No.2 Intermediate People's Court has recognized Bitcoin as a unique and non-replicable digital asset, highlighting its currency features, while Taiwan's Financial Supervisory Commission has issued industry guidelines for virtual asset service providers (VASPs), including the requirement for foreign VASPs to obtain necessary approvals before operating in the country. Meanwhile, the Securities and Futures Commission (SFC) of Hong Kong will publish a list of licensed and suspicious virtual asset trading platforms (VATPs) following the JPEX crypto exchange scandal.

10/5/2023

Hong Kong Forms Crypto Task Force After JPEX Exchange Scandal

The Hong Kong Police Force and Securities and Futures Commission have formed a working group to address illicit cryptocurrency exchange activities, particularly in response to the ongoing crypto scandal involving JPEX exchange, aiming to enhance monitoring, investigation, and collaboration on suspicious activities.

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Posted 9/25/2023, 5:48:45 AM

Hong Kong to Publish List of Licensed Crypto Platforms After $178M JPEX Scandal

Hong Kong Securities and Futures Commission will publish a list of licensed, closing, and suspicious crypto platforms after JPEX scandal.
JPEX accused of promoting services in Hong Kong without a license, estimated to cause $178M in losses.
11 people including influencers arrested, over 2,200 complaints from affected users.
SFC working with police to establish channel for reporting suspicious crypto activity.
SFC vows to regulate crypto platforms to maintain confidence after risks highlighted by JPEX case.

cointelegraph.com

Relevant topic timeline:

9/22/2023

Hong Kong Police Probe Alleged $166 Million Cryptocurrency Fraud at Unlicensed JPEX Trading Platform

9/25/2023

Hong Kong Regulator to Publish Crypto Platform License Applicants After Backlash Over JPEX Scandal

9/25/2023

Hong Kong Watchdog to Increase Oversight After Crypto Exchange Probe

10/2/2023

SEC Delays Crypto ETF Approvals While Courts and Regulators Move Forward on Crypto Regulation

10/5/2023

Hong Kong Forms Crypto Task Force After JPEX Exchange Scandal