TOPIC

JPEX cryptocurrency scandal

JPEX cryptocurrency scandal
The latest news, analysis and opinion on JPEX cryptocurrency scandal. In-depth analysis, industry insights and expert opinion.
Regulators said on Wednesday they would finalise legislative proposals for two new licensing frameworks. Photo: Shutterstock
Hong Kong economy

Hong Kong to broaden crypto rules with new licences for dealers and custodians

New frameworks mooted for virtual asset dealing and custodian services, as Hong Kong forges ahead with plans to become a digital-asset hub.

Banking & finance

Hong Kong eyes info sharing on crypto assets to combat tax fraud, evasion

videocam
Hong Kong courts

15 in court over Hong Kong’s record HK$1.6 billion cryptocurrency fraud

Hong Kong courts

Hong Kong court orders HK$1.85 million recovery in first civil suit against JPEX

District Court rules platform breached its duty, ‘wrongfully’ transferred away plaintiffs’ assets to other unknown crypto wallets.

JPEX advertisements in an MTR station in 2023. Photo: Handout
Cybersecurity

Hi-tech fraud: here are the technologies changing the face of scams in Hong Kong

Emerging technologies like deepfakes, large language models and cryptocurrencies have made fraud easier than ever, with Hong Kong proving particularly vulnerable.

Crime in Hong Kong

Hong Kong JPEX scandal: pair launch civil claims in bid to recover HK$1.8 million

Plaintiffs Herbert Lee and Chan Wing-yan have launched the first civil action against platform involved in an alleged HK$1.6 billion financial fraud.

Advertisement
Advertisement
Advertisement
Crime in Hong Kong

72 arrested, HK$228 million in assets frozen in Hong Kong JPEX crypto scandal

Providing update on city’s largest alleged fraud, police chief Raymond Siu also says force has received 2,636 reports regarding case, with about HK$1.6 billion involved.

The JPEX scandal erupted last September after Hong Kong’s securities watchdog named the cryptocurrency trading company as an unlicensed platform, accusing it of suspicious activities. Photo: Edmond So
Blockchain

Hong Kong vows to regulate stablecoins, over-the-counter crypto shops

The government will submit a bill on licensing rules for stablecoin issuers and OTC trading services to the legislature ‘as soon as practicable’, says the city’s financial affairs chief.

videocam
Hong Kong economy

Hong Kong authorities propose licensing regime for virtual asset exchange stores

Financial Services and the Treasury Bureau launches public consultation for proposed regulations covering over-the-counter traders, in bid to clamp down on crypto scams.

videocam
Cryptocurrency

Hong Kong joins many governments in beefing up crypto rules: report

In 2023, 17 jurisdictions including Hong Kong, the EU, South Korea, Singapore, and the US, tightened cryptocurrency regulations, according to a report by TRM Labs.

In 2023, 17 jurisdictions including Hong Kong, the EU, South Korea, Singapore, and the US, tightened cryptocurrency regulations. Photo: Shutterstock
Financial regulation

Hong Kong to push retail access to spot cryptocurrency exchange-traded funds

This initiative shows Hong Kong policymakers’ determination to rebuild investor confidence in virtual assets, following a number of major financial scandals involving cryptocurrencies.

videocam
Spot cryptocurrency exchange-traded funds enable investors to gain exposure to virtual assets without directly buying any crypto tokens. Photo: Shutterstock
Crime in Hong Kong

Hong Kong’s securities watchdog blacklists 2 suspect cryptocurrency websites

Websites HongKongDAO and BitCuped placed on alert list after they were suspected of spreading false information, the SFC says.

Banking & finance

Editorial | Price of online scams too high for city to pay

Scandals involving virtual trading platforms, bogus sales and other fraudulent methods do nothing for Hong Kong’s reputation.

Fintech

Hong Kong virtual insurer OneDegree on track to turn a profit in 2024: CEO

Fintech start-up OneDegree’s optimistic projection stems from the positive performance of the company’s household pet and digital-asset insurance operations.

OneDegree co-founders Alex Leung Te-yuan (left), who serves as chief insurance officer, and Alvin Kwock Yin-lun, the firm’s chief executive, at the company’s office in Kwun Tong. Photo: SCMP
Blockchain

Forget crypto: Hong Kong Web3 events focus on what’s next for blockchain

Major Web3 events in Hong Kong have been focusing more on Web3 usability and use cases like identification, content ownership and video gaming.

videocam
4
Animoca Brands co-founder and chairman Yat Siu gives an interview during the Edge Summit at Hong Kong’s AsiaWorld-Expo on September 26, 2023. Photo: SCMP/ Matt Haldane
Cryptocurrency

Opinion | Hong Kong’s cryptocurrency retail investors must be better protected

The Securities and Futures Commission has put up guard rails but Hong Kong still lacks a cohesive education and protection ecosystem to underpin the regulation, as JPEX fraud case shows.

videocam
Crime in Hong Kong

Hong Kong must address money-laundering risks for crypto changers: customs chief

Commissioner Louise Ho stops short of saying whether her agency, which oversees other money changers, will be tasked with regulatory review of cryptocurrency shops.

Advertisement
Advertisement
Advertisement
Cryptocurrency

BC Technology denies it is selling HK$1 billion OSL crypto exchange

BC Technology has rejected a report that it is looking to sell OSL, one of two licensed Hong Kong crypto exchanges and the firm’s main revenue source.

videocam
BC Technology says a report that it is looking to sell OSL is “factually inaccurate and highly misleading”. Photo: Shutterstock
Bitcoin

Hong Kong’s trust in crypto assets plunges after JPEX scandal, survey finds

Hongkongers’ attitudes towards virtual assets have soured following fallout from the implosion of JPEX, a survey found, highlighting the challenges the city faces in its efforts to embrace this volatile industry.

Crime in Hong Kong

Hong Kong JPEX cryptocurrency scandal exposes regulatory ‘loopholes’: victims

Victims say they were influenced by army of celebrities, blanket advertising and cryptocurrency investing education centres.

videocam
9
Cryptocurrency

Retail interest in virtual assets grows but education lags, survey finds

As retail investment interest in virtual assets grows, investor education lags in the city, according to recent research.

Retail interest in virtual assets grows but education lags, survey finds. Photo: Bloomberg
Crime in Hong Kong

‘Crypto investors need education’: Hong Kong YouTuber after JPEX allegations

There were early red flags over cryptocurrency platform at the centre of HK$1.5 billion fraud scandal, says YouTuber.

5
Cryptocurrency YouTuber Leo says he was beaten up in the street just weeks after he raised red flags over the JPEX trading platform. Photo: Jonathan Wong
Hong Kong economy

Vigilance is the best way to beat the scammers

The current investigation into the JPEX scandal in Hong Kong is a timely reminder that cybersecurity is a team effort.

Crime in Hong Kong

Hong Kong JPEX cryptocurrency scandal: suspect arrested on arrival at airport

While identity of suspect not known, individual known as Henry Choi, or ‘Tung Gei’ says on Instagram he was returning to city ‘to explain the truth to the public’ and help police with investigation.

Cryptocurrency

Hong Kong’s crypto power players applaud Web3 regulation after JPEX scandal

A group of 10 cryptocurrency industry executives, including Animoca Brands co-founder Yat Siu, has published a public letter endorsing the government’s commitment to Web3.

Cryptocurrency platform JPEX imploded last month after Hong Kong’s securities watchdog issued a public warning that accused the enterprise of offering “suspicious features” and spreading misleading claims about its licensing status. Photo: Bloomberg
Cryptocurrency

Opinion | Why JPEX scandal won’t derail Hong Kong’s cryptocurrency ambitions

The silver lining is that Hong Kong has a licensing regime capable of addressing the regulatory challenge JPEX exposed, making it safer for retail investors in an industry maturing beyond mere speculation.

videocam
7
The logo of cryptocurrency platform JPEX, seen on September 19. The scandal has not only triggered a police investigation but also sharply tainted the public’s perception of cryptocurrency. Photo: Bloomberg
Venture capital market

Exclusive | Hong Kong crypto venture capital firm CMCC Global launches US$100 million fund

CMCC Global, a Hong Kong-based venture capital firm, has raised US$100 million for a new fund aimed at backing Asian blockchain start-ups amid Hong Kong’s virtual asset push, despite the recent JPEX scandal.

Crime in Hong Kong

‘Just waste paper’: Hong Kong JPEX users unable to withdraw assets under new plan

Police arrest two more suspects linked to fast-growing case of alleged fraud involving more than HK$1.5 billion in assets.

Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement