The SFC put JPEX on its Alert List in July 2022. Its public warning came on 13 September 2023, and withdrawals stopped after that. JPEX never needed the word "exchange". It claimed overseas licences.
That's why Hong Kong's draft rule on unlicensed names like "crypto exchange" feels like a sideshow to me. The word list is reported, and the rule still has to pass LegCo. Fair point: most users judge by the name and never open a register. But the register is the safety signal, and it already exists. Check the exact legal name on the SFC licensed list, then the Alert List.
Before depositing, would you have checked either?
#HKSFCPlansToRestrictCryptoAndExchangeTerms
That's why Hong Kong's draft rule on unlicensed names like "crypto exchange" feels like a sideshow to me. The word list is reported, and the rule still has to pass LegCo. Fair point: most users judge by the name and never open a register. But the register is the safety signal, and it already exists. Check the exact legal name on the SFC licensed list, then the Alert List.
Before depositing, would you have checked either?
#HKSFCPlansToRestrictCryptoAndExchangeTerms
