The fraud case involving the cryptocurrency platform JPEX continues to ferment. It is currently estimated that it has attracted HK$1.4 billion, making many affected households miserable. In order to alert the public as soon as possible, the Hong Kong Securities and Futures Commission announced today (25th) that it will publish 4 lists of virtual asset platforms, including the "Applicant List", so that investors can pay attention to whether the platforms have made false statements.

The list of virtual asset platforms to be announced by the China Securities Regulatory Commission includes: "List of Licensed Platforms", "List of Completion Platforms", "List of Platforms Deemed to be Licensed", and "List of Applicants". Platforms currently applying for virtual asset licenses include: :

  • HKVAX

  • HKBitEx

  • Hong Kong BGE

  • Victory

Regarding "whether to publish the list of applicants" for investors' reference, the China Securities Regulatory Commission held a press conference last week and pointed out that doing so was "temporarily inappropriate" and would advocate educating investors. Now, less than a week later, the attitude has changed. But there was a big reversal.

According to a report by Radio Television Hong Kong, Huang Lexin, Director of the Licensing Division and Head of the Financial Technology Group of the Securities and Futures Commission, pointed out that the newly added "Applicant List" is mainly to let investors know whether the statements made by the trading platform in applying for a license are true. She emphasized that the trading platforms listed on the list are only "applying for licenses" and have not been licensed. If the public wants to invest in virtual assets, they should refer to the Securities and Futures Commission's "List of Licensed Trading Platforms."

In addition, the Securities and Futures Commission will also optimize and publish a "List of Suspicious Virtual Asset Trading Platforms" to help the public become more alert to platforms with unlicensed or questionable operating practices in Hong Kong.

On the other hand, the Securities and Futures Commission will also cooperate with the Investment Committee to launch a series of publicity activities to raise public awareness of fraud prevention and strengthen investor education; it will also strengthen intelligence collection, follow up on suspected illegal platforms, and even take legal action and redirect Introduce the police.

The Securities Regulatory Commission and the Investment Commission will soon launch a series of publicity activities to increase awareness of fraud prevention, and will strengthen intelligence collection, follow up and take legal action against suspected illegal virtual asset trading platforms, and refer the case to the police for handling if necessary. . The SFC encourages members of the public to lodge complaints through the online complaint form regarding any suspicious activity they encounter.

The China Securities Regulatory Commission also stated that it will explore with the police to set up a special channel to share information about suspicious activities and irregularities on virtual asset trading platforms, and investigate the JPEX case to bring violators to justice.

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