Hong Kong crypto exchange JPEX suspends trading amid SFC probe
The probe into JPEX has resulted in the arrest of one person. The JPEX exchange has allegedly been operating in the country without a license. JPEX’s native token, JPC, has experienced a 21.98% decline in value over the past 24 hours following as the events unfold. Hong Kong’s crypto currency exchange , JPEX, has halted its trading operations in response to an investigation conducted by the Hong Kong Securities and Futures Commission (SFC). This inquiry resulted in the arrest of an individual affiliated with the exchange , as reported by local media. The SFC has asserted that JPEX, based in Hong Kong, had been conducting its operations without the necessary license, which prompted numerous complaints from users to law enforcement agencies. The JPEX comes as Hong Kong warns crypto firms against referring to themselves as “banks.” JPEX cites unfair treatment by Hong Kong authorities In a blog post, JPEX expressed dissatisfaction with...