[Xu Zhengyu: The JPEX case reflects the importance of regulating virtual asset trading platforms] Golden Finance reported that Hong Kong Financial Services and Treasury Secretary Xu Zhengyu said that the JPEX case was a fraud case involving an unlicensed trading platform. The authorities have put a lot of effort in educating investors over the past period of time. Virtual asset trading is an emerging market, and the products are very investment-oriented and volatile. If investors want to participate in it, they must first think clearly about the nature of the event and their ability to bear it. Xu Zhengyu said on our program "Saturday Accountability" that the authorities' supervision of virtual asset platforms reflects the protection of investors. The regulatory system not only reflects the similarity between the platform and financial institutions, but also takes into account the characteristics of online operations. Regarding whether the SFC did not publish the list of virtual asset trading platforms that were applying for licenses before the JPEX incident, whether there was a "leak", he said that the authorities had emphasized through various channels in the past that only licensed institutions meet the requirements, and the SFC also issued warnings to investors. The JPEX incident reflects the importance of regulating virtual asset trading platforms.