2023-09-23 07:46:50
According to statistics from Hong Kong media, there are at least 15 local cryptocurrency exchanges, listed companies, and securities companies in Hong Kong claiming to be “applying” or “planning to apply” for virtual asset trading platform licenses. The Hong Kong Securities and Futures Commission refused to disclose the list of those who have applied for licenses at the JPEX press conference this week; on the other hand, the DAO dividend compensation plan announced by JPEX this week announced the first-day voting results yesterday, with an approval rate of 70%, but there were victims who participated in the voting. Some questioned whether the referendum was fraudulent.
(Preliminary summary: JPEX wallet abnormally outflowed 7.21 million USDT! The sky-high currency withdrawal fee has collected US$6.65 million)
(Background supplement: JPEX incident for lazy people” Securities Regulatory Commission warning, asset transfer, card withdrawal, booth clearing, headcount company… (immediate update))
The fuse for the series of storms surrounding the cryptocurrency exchange JPEX was the announcement issued by the Securities and Futures Commission of Hong Kong (SBF) on September 13. The SFC named at that time that none of the companies under JPEX had been licensed by the SFC and had not applied to the SFC. A license to operate a virtual asset trading platform in Hong Kong was suspected of making false or misleading statements in the application for the license.
《Hong Kong 01》Today (23rd)reportAccording to the statistics of this media reporter, there are at least 15 local cryptocurrency trading platforms, or listed companies, and securities companies in Hong Kong, claiming that they are “applying”, “planning to apply”, “planning to apply”, “launching”, “formally launching”, “It is expected to obtain” the license in a certain month of a certain year. Most of these platforms are used by Hong Kong cryptocurrency investors, and most of them have participated in Hong Kong Fintech Week, Web 3.0 Carnival and other events, but none of them have been licensed by the Securities and Futures Commission.
There is a one-year grace period for licensing, but the public does not know who actually applied for the license.
In fact, according to the Securities and Futures Commission’s announcement, following Hong Kong’s virtual asset platform licensing system is launched on June 1, digital asset platforms that intend to apply for a license and have started operations in Hong Kong before June 1 and have substantial business will be provided with There is a one-year transitional arrangement period (June 1, 2023 to May 31, 2024) to apply for a license.
Those who do not intend to apply for a license should gradually end their business during the 12-month transition period. Those who are not eligible for the transition arrangement are not allowed to carry out virtual asset business in Hong Kong or promote services to Hong Kong investors before being licensed by the Securities and Futures Commission.
Further reading: Hong Kong gives local exchanges a “one-year transition period” to apply for licenses! Only those who started operations before 6 months are eligible.
Hong Kong Securities and Futures Commission refuses to publish list of license applications
Which exchanges have actually applied for licenses from the Securities and Futures Commission and are eligible for the “transitional arrangement”? The China Securities Regulatory Commission refused to disclose relevant information at a press conference on the JPEX case on Tuesday (19th). Huang Lexin, Director of the Licensing Section and Head of the Financial Technology Group of the Intermediary Department of the China Securities Regulatory Commission, stated at the press conference that the list would not be announced.
“Because we are afraid that publishing the list will make investors mistakenly think that the platform is trustworthy.”
When the reporter of this newspaper asked the China Securities Regulatory Commission (CSRC) regarding the 15 statistical platforms to see whether the claims made by these platforms in applying for licenses were true, the China Securities Regulatory Commission refused to confirm and was unwilling to make the list public. It only verbally stated that it had no response. In this regard, when interviewed, Legislative Council member Wu Jiezhuang, who is concerned regarding the development of virtual assets in Hong Kong, suggested that as much information as possible should be given to the public:
“If an application has been submitted, and the CSRC knows which industries are involved, it should be disclosed to the public, because the transition period is still nine months away, and we don’t want similar incidents to occur during the transition period. I hope the CSRC can think regarding it so that it can know which applications in a way that will not mislead the public.”
Extended reading: JPEX announced the “DAO Compensation Plan” saying that users can get back their assets in full following two years. Voting will start on 9/21. What are the risks?
The current approval rate for the JPEX compensation plan reaches 70%
On the other hand, the JPEX exchange, which is still having difficulty withdrawing funds, announced this week that it will open a referendum on the compensation plan of “DAO shareholder dividends”.
It claims that the platform will distribute dividends to 49% of DAO shareholders, with a total value of approximately 4 billion USDT for the public to subscribe and redeem. Existing users can exchange the assets currently stored in the platform for DAO shareholder dividends at a ratio of 1:1. The official will buy back 100% of the assets following two years, while new users can deposit new assets at a ratio of 1:2. Conduct DAO stakeholder subscription. (The dynamic zone reminds the authenticity of the official statement to be verified and takes stock of potential risks）
JPEX released on Fridayannouncement, the first-day voting results of the plan announced by it showed that as of 20:00 GMT+8 on September 22, 2023, the data were: 70% in favor and 30% opposed. Officials said that platform users can continue to participate in the referendum before 20:00 GMT+8 on September 28, 2023.
Source: JPEX announcement
Users complained regarding referendum fraud
Although the voting on this plan will not officially end until next Thursday, some disaster-stricken households who participated in the voting told “Hong Kong 01”questionThe referendum was falsified, claiming that it was difficult to vote for the “no” option in the JPEX referendum.
Screenshots and videos provided by users show that following pressing the “Do Not Accept” button, the web page will still pop up the voting option once more, saying that the user can consider it once more. After pressing “Do Not Accept” for the second time, the web page will pop up with the word “Success”, but The page still displays “You can reconsider whether to accept this plan” and an “Agree” button, which seems to be forcing consent.
Source: Hong Kong 01
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