After the CSRC held a press conference yesterday (19th) to explain the JPEX incident, the JPEX team also sent a letter to users on its website at about 10 pm yesterday in response to the CSRC, directly denouncing the other party as malicious targeting. The JPEX team said that it had been seeking relevant guidance from the SFC since April last year, but there was no positive response and guidance. The team also posted a series of email letters in support of the SFC's denial that it had contacted JPEX and was a clear misrepresentation.

The following is the original text of the JPEX response letter:

Regarding the press conference of the Hong Kong Securities and Futures Commission (SFC) on September 2023, 9, the platform has the following response:

First of all, regarding the malicious targeting of the press release spokesperson, it is pointed out that our company JPEX has stopped trading operations on the platform, this remark is really a serious defamatory act, ignoring the facts, we solemnly reiterate that the platform is cooperating with the regulations at this stage, gradually removing the functions of game halls and financial projects, in order to comply with Hong Kong regulations and continue to serve the public. Our company reiterates that all trading pairs of the platform have been operating normally and without interruption, and continue to provide free trading services, and have been reducing the withdrawal fee, and the newly formed task force is continuing to assist platform users to carry out priority withdrawal processing day and night!

Secondly, the SFC's repeated denial of having contacted us is a manifest misrepresentation, and in fact from April 2022 to August 4, we have been communicating with the SFC and seeking relevant guidance, hoping to do our best to meet its requirements and come up with a legal and compliant direction to serve the public, but we have not received a positive response and guidance. (Please refer to the following email log for details)

Third, the spokesperson also pointed out that the platform keeps customers' private keys privately. We are convinced that the speakers have confused the difference between centralized exchanges and wallets. Well-known exchanges, such as Binance Binance, COINBASE, Bybit, etc., all centralized exchanges are kept by the platform for all customer private keys, in addition to the convenience of users, but also provide users with more professional security methods to protect the safety of users' assets.

In addition, the Hong Kong Securities and Futures Commission has always raised questions about the liquidity and value of our platform coin JPC, and pointed out that our platform coin is only listed on JPEX. In fact, JPC has been listed on several worldwide trading platforms, including MEXC, CoinW and Lbank. For example, according to the SFC, the macro market, except for Bitcoin and Ethereum, is not all Binance, OKX, Bitget, Bybit, Huobi, etc., the platform coins issued by the platform and other cryptocurrencies have no value in the eyes of the SFC?

These exchanges have been continuously promoted online and offline in Hong Kong, and only our platform has been publicly targeted for irregularities, we do not want to be privileged, but we do not want to be treated unfairly.

In the absence of clear guidelines, worthless crypto assets are still listed on numerous platforms, and all trading platforms that are not licensed by the SFC are flooding the entire trading market in Hong Kong.

Even at such difficult times, JPEX has stood by its part, taking into account a large number of data and successful historical cases, to develop a feasible plan for all users of the platform to hold a referendum, and is improving the relevant content and details for release in the coming week's announcement.

As an operator of the cryptocurrency industry and a promoter of the WEB 3.0 concept, JPEX expressed extreme disappointment at the SFC's unfair efforts to disrupt market order, not only contrary to the government's policy development policy of wanting to make Hong Kong a WEB 3.0 capital, but also its biased attitude, and did not fulfill its own role in a fair and just regulatory role, 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.

Even in the face of a series of challenges, JPEX 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 withdrawal assistance to users.

Thank you for your continued support of the platform

Correspondence provided by JPEX on the website.

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