JPEX case｜The Securities Regulatory Commission “turned around” 6 days later and will set up a virtual asset trading platform. There are 4 companies on the “application pending” list.

2023-09-25 04:11:49
JPEX case｜The Securities Regulatory Commission “turned around” following 6 days and will set up a list of “applications pending” for a virtual asset trading platform

[Yahoo News Report]The case of the cryptocurrency exchange JPEX has caused widespread discussion in the society. Liang Fengyi, CEO of the China Securities Regulatory Commission, said this morning (25th) that in response to the outside world’s attention to the virtual asset trading platform, a new virtual asset trading platform will be established. “Mid” list.

Huang Lexin, Director of the Licensing Division and Head of the Financial Technology Group of the SFC, said that the purpose of establishing the “Applying” list is purely to let the public know whether individual companies are indeed applying for licenses and to check whether they have made false statements. Huang Lexin also emphasized that the platform under application does not mean that it is compliant or licensed. If investors want to invest, they should still refer to the list of licensed platforms.

4 platforms are applying for licenses

Huang Lexin revealed that there are currently 4 platforms applying for licenses, including HKBitEx, Hong Kong BGE, HKVAX, and Victory.

Regarding the establishment of an “application pending” list, the China Securities Regulatory Commission’s attitude changed 180 degrees in less than a week. Last Tuesday (19th), when the Securities and Futures Commission and the Commercial Crime Bureau of the Police held a joint press conference, Huang Lexin said that setting up an “applying” list was “not appropriate.”

Will publish lists specifically targeting suspicious platforms

The four lists of virtual asset platforms that the Securities Regulatory Commission will publish online include the list of licensed platforms, the list of completed platforms, the list of platforms deemed to be licensed, and the list of applicants. In addition, the China Securities Regulatory Commission will publish a list specifically targeting suspicious virtual asset trading platforms to help the public become more alert to local unlicensed or suspicious operating practices. In addition, the SFC will jointly launch a series of publicity activities with the Investor and Financial Education Committee to raise public awareness of fraud prevention and strengthen investor education; it will also strengthen intelligence collection, follow up on suspected illegal platforms, and even take legal action and referrals police.

The China Securities Regulatory Commission turned to the announcement of the list of “applicants under application” of the trading platform. The China Securities Regulatory Commission stated that the list is purely to let the public know whether the platform has made false statements.

【Related reports】

September 19: JPEX Controversy｜The Securities Regulatory Commission refused to set up an “applicant list” saying it was “not appropriate”

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