{"id":2374,"date":"2023-09-18T05:46:47","date_gmt":"2023-09-18T05:46:47","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=2374"},"modified":"2023-09-18T05:46:49","modified_gmt":"2023-09-18T05:46:49","slug":"jpex-halts-trading-amidst-hong-kong-police-investigation","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/","title":{"rendered":"JPEX Halts Trading Amidst Hong Kong Police Investigation"},"content":{"rendered":"\n<p>Hong Kong&#8217;s cryptocurrency platform, JPEX, has suspended certain trading activities amid an active police investigation. This decision comes on the heels of concerns raised by the city&#8217;s market regulator regarding the platform&#8217;s licensing status.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-trading-restrictions-and-liquidity-challenges\">Trading Restrictions and Liquidity Challenges<\/h2>\n\n\n\n<p>From Monday, JPEX users will find themselves unable to place new orders on the Earn Trading interface, a decision affecting various wealth management products. This development was clarified in a recent statement by the platform. Furthermore, JPEX is currently in talks with external market makers to address existing liquidity issues.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Regulatory Scrutiny Intensifies<\/h2>\n\n\n\n<p>The Securities and Futures Commission (SFC) has flagged JPEX, prompting a thorough investigation by the Hong Kong police. The SFC alleges that JPEX has been functioning in the city without the necessary license. This marks a significant step by the regulatory body, especially considering the nation&#8217;s recent push to enhance Hong Kong&#8217;s stature as a leading cryptocurrency hub by attracting more individual investors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frozen Funds and Current Orders<\/h2>\n\n\n\n<p>Following inquiries by local authorities, JPEX revealed that market makers had put a hold on funds. However, the platform assures that pre-existing orders on Earn Trading will proceed as planned until they reach maturity. Efforts to obtain comments from JPEX on the matter have been unfruitful.<\/p>\n\n\n\n<p>Joseph Lam Chok, a well-known influencer, has been taken into custody in relation to the ongoing JPEX investigation. Reports and footage from HK01 have shown police personnel loading boxes onto a vehicle. Attempts to get a comment from the Hong Kong police have so far remained unanswered.<\/p>\n\n\n\n<p>Hong Kong police have documented 83 grievances against JPEX, which collectively involve an estimated HK$34 million (roughly $4.3 million). This data came to light via a statement from police commissioner Raymond Siu.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong&#8217;s cryptocurrency platform, JPEX, has suspended certain trading activities amid an active police investigation. This decision comes on the heels of concerns raised by the city&#8217;s market regulator regarding the platform&#8217;s licensing status. Trading Restrictions and Liquidity Challenges From Monday, JPEX users will find themselves unable to place new orders on the Earn Trading [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1345,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[30,43],"tags":[],"class_list":{"0":"post-2374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exchange","8":"category-general-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JPEX Halts Trading Amidst Hong Kong Police Investigation<\/title>\n<meta name=\"description\" content=\"Hong Kong&#039;s cryptocurrency platform, JPEX, has suspended certain trading activities amid an active police investigation. This decision comes on the heels\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPEX Halts Trading Amidst Hong Kong Police Investigation\" \/>\n<meta property=\"og:description\" content=\"Hong Kong&#039;s cryptocurrency platform, JPEX, has suspended certain trading activities amid an active police investigation. This decision comes on the heels\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-18T05:46:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-18T05:46:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/02\/hong-kong-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adam L\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adam L\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\"},\"author\":{\"name\":\"Adam L\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/d05d4ef65ae9752036cc2b5e044592f9\"},\"headline\":\"JPEX Halts Trading Amidst Hong Kong Police Investigation\",\"datePublished\":\"2023-09-18T05:46:47+00:00\",\"dateModified\":\"2023-09-18T05:46:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\"},\"wordCount\":296,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/02\/hong-kong-bitcoin.jpg?fit=800%2C419&ssl=1\",\"articleSection\":[\"Exchange\",\"General News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/\",\"name\":\"JPEX Halts Trading Amidst Hong Kong Police Investigation\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/jpex-halts-trading-amidst-hong-kong-police-investigation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/02\/hong-kong-bitcoin.jpg?fit=800%2C419&ssl=1\",\"datePublished\":\"2023-09-18T05:46:47+00:00\",\"dateModified\":\"2023-09-18T05:46:49+00:00\",\"description\":\"Hong Kong's cryptocurrency platform, JPEX, has suspended certain trading activities amid an active police investigation. 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