In the wake of the JPEX scandal, Hong Kong's Securities and Futures Commission says it will issue a public list of suspicious crypto platforms in a bid to combat fraudulent activity.
, which is estimated to have a financial fallout of around $178 million. At the time of publication, local police have received more than 2,200 complaints from affected users of the exchange.
The SFC said the resulting fallout from JPEX"highlights the risks of dealing with unregulated VATPs and the need for proper regulation to maintain market confidence." Additionally, the SFC said that it would be working with local police to establish a dedicated channel for citizens to share information on suspicious activity and potential legal breaches by VATPs, as well as better investigating the JPEX incident to help"bring the wrong-doers to justice."
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