Hong Kong crypto exchange JPEX suspends trading in the wake of regulator probe

JPEX, a cryptocurrency exchange based in Hong Kong, has not only suspended trading activities through its web-based interface Earn Trading, but according to the reports from local media, is also looking into being restructured as a Decentralized Autonomous Organization (DAO). The cause of these changes allegedly originates from the probe undertaken by the Hong Kong Securities and Futures Commission (SFC), which has led to the arrest of one person related to JPEX exchange. Considering SFC reported that JPEX exchanged cryptocurrencies without having a license, numerous numbers of compliant have pushed the probe in advance. A possible collateral of that could be closing of the firm’s actual branch in Taipei, challenging the tale of provided registration under the U.S. Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). During the recent Token2049 conference in Singapore, JEPEX’s promoted stand has been nearbyy evacuated headed for the next day Agency.

Robert Wilson author
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