As the story of JPEX unfolds, Hong Kong police and regulators assemble a crypto task group.
In response to the ongoing Crypto scandal in Hong Kong involving the JPEX Crypto exchange, a collaborative effort has been initiated. This joint endeavor brings together the Hong Kong Police Force (HKPF) and the Securities and Futures Commission (SFC), establishing a dedicated Crypto -focused task force to tackle illicit Crypto exchange activities. In a statement released on October 4th, the SFC revealed that this alliance was formed following a meeting held on September 28th with the HKPF. This development comes in the midst of ongoing arrests and evolving events connected to the Dubai-based JPEX exchange. Just prior to this pivotal meeting, 11 individuals were apprehended for questioning regarding their potential involvement in the JPEX scandal. The SFC has accused the firm of promoting its services within the region without the necessary license. The primary objective of this collaborative working group is to elevate the level of monitoring and investigation concerning ill...