Cryptocurrency trading platform JPEX was named by the Securities and Futures Commission last Wednesday (13th), pointing out that there are many suspicious aspects of PEX and those who actively promote JPEX to the Hong Kong public and money changers. The trading platform announced on the evening of Sunday (17th) that all transactions on the wealth management page will be removed from 18:<> today (<>th). The latest development of the incident, including Internet celebrity Lin Zuo and others, was arrested by the police.
JPEX issued another statement in the evening, pointing out the SFC's continued unfair treatment, and pointed out that the SFC's statement on Wednesday had contributed to the platform's operational difficulties, but stressed that it would continue to operate unswervingly in the face of a series of challenges.

JPEX pointed out in the statement that since the beginning of its operation, the platform has been adhering to the concept of building a Web 3.0 world, and is committed to promoting the development of the blockchain industry and cryptocurrency market around the world. In the past development process, we have been willing and willing to cooperate with the policies, regulations and licensing supervision systems of different regional governments, and hope to strike a suitable balance from the protection of user rights and interests, the original intention of blockchain development and policy regulation so that different stakeholders can obtain the greatest benefits.

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JPEX said it would communicate with the SFC on cooperating with the regulatory regime

JPEX also pointed out that when the Hong Kong government announced that it will focus on the future development of WEB 3.0 projects, the team was also pleased with the possible future development of the blockchain industry, and decided to shift the focus of development to the Asian region, hoping to work together to expand WEB 3.0. In order to operate stably in Hong Kong, the platform has been preparing for the cryptocurrency regulatory regime (https://blog.jp-ex.io/zh/jpex-to-apply-for-the-latest-crypto-trading-license-in-hong-kong/) before the end of the grace period of the licensing regime and maintaining communication with the Securities and Futures Commission of Hong Kong.

JPEX further pointed out that the SFC did not fulfill its commitment to unfairly treat JPEX when other cryptocurrency exchanges announced their entry into the Hong Kong market and carried out large-scale publicity, sending letters to all partners of the platform requesting the termination of cooperation with the platform. On September 2023, 9, the CSRC also issued a statement against the cryptocurrency trading platform JPEX, which caused the third-party market makers cooperating with the platform to maliciously lock up funds and have operational difficulties, and the platform also requested guidance from the CSRC again on September 13, 2023 to protect the rights and interests of users, but only obtained the following reply.

Emphasise disappointment at the SFC's unfair practices

JPEX said that as an operator of the cryptocurrency industry and a promoter of the WEB 3.0 concept, he expressed extreme disappointment with the SFC's unfair approach to disrupting the market order, and its attitude not only contradicted the government's policy development policy of wanting to make Hong Kong a WEB 3.0 capital, but also did not practice its own role as a fair and just regulator, let alone protect thousands of investors in Hong Kong, and the platform will be the best example. To prove to the international whether the SFC is helping Hong Kong firmly embark on the road to WEB 3.0 construction.

JPEX pointed out that even in the face of a series of challenges, it will continue to operate unswervingly, and will not be defeated by the severe challenges caused by this irreversible policy risk, and the task force for emergency withdrawal applications will continue to provide priority assistance to users.

Lin Zuo was arrested|MP said that JPEX suffers from about 8000,30 people, has contacted <> people, is expected to be involved in more than <> million yuan, Lin Zuo was arrested in the JPEX case|Escorted into a car by the Commercial Crime Bureau Police searched the Central Office to check large stacked cash JPEX from <>:<> am on Monday All transactions on the wealth management page were removed