The Hong Kong Securities and Futures Commission (SFC) has warned investors about the unauthorized activities of the crypto exchange JPEX.
JPEX has responded to the statement,The Hong Kong Securities and Futures Commission has cautioned investors about the crypto exchange JPEX, which was reportedly operating without regulatory approval.on 13 September, none of the entities under the JPEX Group have secured a license. Further, the exchange had not applied to run a regulated virtual asset trading platform .
The regulators have also mentioned some concerning activities at JPEX. Notably, the exchange’s website mentioned an erroneous claim that it was being regulated by foreign regulatory agencies as a regulated VATP. For certain offerings, the exchange claimed to offer yearly yields as high as 21%.
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