Odaily Planet Daily News JPEX, an unlicensed cryptocurrency exchange, was warned by the Hong Kong Securities and Futures Commission on September 13 and referred to the police for handling. The police received a total of more than 2,300 reports, involving a total amount of more than HK$1.4 billion. As the incident becomes more and more serious, the role that the Hong Kong Securities and Futures Commission should play has triggered many discussions. The Chief Executive of the Securities and Futures Commission, Leung Fengyi, announced that a new list of virtual asset trading platforms under application will be added for investors to pay attention to whether the platform has made false statements. The current list is only 4, and emphasized that the relevant platforms are still unregulated before being officially licensed, and do not want to give investors a false sense of security.
The Hong Kong Securities and Futures Commission officially implemented a new virtual asset trading platform system in June this year, requiring all trading platforms operating in Hong Kong to apply for a license, but there is a 12-month transition period for those who have been operating in Hong Kong before the compulsory licensing system. The platform transitions to the new licensing system. However, the China Securities Regulatory Commission has repeatedly emphasized that if platform operations do not fall within the behaviors allowed under the new system, it will violate the regulations. (Hong Kong Economic Daily)
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