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The CSRC issued a statement last Wednesday (13th) pointing out that none of the entities of the virtual asset trading platform JPEX have been licensed by the SFC, and have not applied to the SFC for a license to operate a virtual asset platform in Hong Kong. At the same time, the SFC also pointed out that JPEX and those who actively promote JPEX to the Hong Kong public and the methods used by money changers were observed.
It is reported that Lin Zuo, who opened an OTC OTC in Central Casino and claimed to have applied to become a partner of JPEX, was arrested by the Commercial Crime Bureau this morning (18th). He had earlier gone to the police station to provide information to clarify his relationship with JPEX.
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Some users of the virtual asset trading platform JPEX are rumored to be unable to withdraw funds, and some users say that JPEX limits the withdrawal limit to a maximum of 1,000 USDT (US dollar stablecoin), and the handling fee is changed to 999 USDT. JPEX issued a statement last Thursday (14th) saying that the platform has set up a task force for the phased opening of the withdrawal limit, and is waiting for the reply of the Securities Regulatory Commission (SFC). The SFC retorted the next day, alleging that JPEX had not contacted the SFC since the SFC issued a warning statement on JPEX on September 9; At the same time, it is emphasized that JPEX's statement, as well as the so-called arrangements or requirements for customer withdrawals, are all made by JPEX itself. The SFC has referred the case to the police.
Police received referrals from the SFC for follow-up by the Commercial Crime Bureau. It is reported that Lin Zuo, who opened an OTC OTC in Central Casino and claimed to have applied to become a partner of JPEX, was arrested by the Commercial Crime Bureau this morning (18th). He had earlier gone to the police station to provide information to clarify his relationship with JPEX.
Following the SFC's press release on Wednesday, Lam posted on IG in the early hours of Thursday morning, stating that he and Lam Chok OTC would not publicly promote and mention any unlicensed exchanges in Hong Kong. (Lin Zuo IG)
JPEX was warned by the Securities Regulatory Commission 01 Multiple countries raided and uncovered the registered "heads" in various places The actual person in charge is a mystery, JPEX was named and warned by the Securities Regulatory Commission and listed 6 suspicious points and was asked to stop promoting services and products
The China Securities Regulatory Commission listed six major doubts and asked Internet celebrities to stop promotion
The SFC said on Wednesday (13th) that it noticed a virtual asset trading platform called "JPEX", which was actively promoted through online celebrities and over-the-counter money changers (OTCs). The SFC clarified that none of the entities under JPEX Group are licensed by the SFC and have not applied to the SFC for a licence to operate a virtual asset trading platform in Hong Kong. The SFC also listed six major suspicious points:
(1) JPEX states on its website that it is "a licensed and recognized digital asset and virtual currency platform". It claims on its website and in local editorial advertisements that it has obtained licenses from a number of overseas regulators to operate virtual asset trading platforms, which is actually inconsistent with the facts.
(2) JPEX offers extremely high returns on some of its products.
(3) The SFC received complaints from retail investors and noted media reports that retail investors had failed to withdraw virtual assets from their accounts opened with JPEX or found that their account balances had been reduced and changed.
(4) Some of the products offered by JPEX appear to involve virtual asset arrangements, such as "deposits", "savings" or "income" of virtual assets that are not permitted under the SFC's virtual asset trading platform regulatory regime.
(5) JPEX advertised on its website and local editorial advertisements that it had entered into a business partnership with and received investment from a Hong Kong listed company, when in fact the cooperation had been terminated and the listed company had not actually made any investment.
(6) Influencers and OTC money changers made false or misleading statements on social media that JPEX had independently or jointly applied for a virtual asset trading platform licence in Hong Kong with a Hong Kong listed company, when in fact none of the JPEX Group entities had submitted any application for a virtual asset trading platform licence to the SFC.
After the SFC issued a statement, JPEX responded on its website, saying that it had previously announced that it "intended" to apply for a Hong Kong license, was preparing documents, and had not yet submitted an application.