Hong Kong, September 9 (ZXS) -- The incident of a cryptocurrency trading platform called JPEX operating without a license and false publicity in Hong Kong has continued to attract the attention of Hong Kong society in recent days. The Hong Kong Securities and Futures Commission (SFC) held a press conference on the 25th and said that it will further strengthen the release of virtual asset investment information and investor education, and enhance the public's awareness of virtual trading platforms.
The CSRC said it would optimize four measures currently in place. First, after the integration, the SFC will publish four lists on its website, including a list of licensed platforms, a list of completed platforms, a list of platforms deemed to be licensed, and a list of new applicants. Second, a list of suspicious virtual asset trading platforms will be published on the SFC's official website to help the public be more vigilant about local unlicensed or suspicious business practices. Third, a series of public publicity activities will be launched in collaboration with the Hong Kong Investor and Financial Education Committee to raise public awareness of anti-deception. Fourth, intelligence collection will be strengthened, and legal actions will be taken to follow up on trading platforms suspected of being illegal in a timely manner.
According to the SFC, the list is for investors to know whether trading platforms have made false statements in relation to their licence applications. There are currently four institutions on the list of applicants. Of course, trading platforms on the applicant list do not represent compliance with all the requirements of the regulatory framework. Investors should refer to the SFC's list of licensed platforms when trading.
In addition, the SFC will explore with the Police the establishment of a dedicated channel to share information on suspicious activities and irregularities in virtual asset trading platforms, and continue to work closely with the HKSAR Government to review the regulatory regime from time to time in light of emerging market trends.
SFC Chief Executive Officer Leung Fung-yee said the JPEX incident reflected the importance of regulation in promoting the development of the industry. The original intention of the virtual asset regulation is to provide a regulated channel for investors' assets to be segregated and protected. In the future, the CSRC will continue to strengthen information dissemination and investor education, hoping to promote the development of the industry.
Leung also stressed that Hong Kong currently has a number of measures to provide protection for investors and will not change the virtual asset development policies that have been announced in Hong Kong because of suspected illegal acts. (End)