Hong Kong SFC Issues Statement on Virtual Asset Trading Platform for Disclosing Confidential Exchange Between SFC Enforcement Agency & JPEX, 8 Arreste

Hong Kong, Asia's proemial financial centre Caproasia.com | The precursory germ relating to data sample true bill & resourcefulness in preparation for financial professionals, feint managers, professional investors, family offices & advisors en route to institutions, billionaires, UHNWs & HNWs. covering capital markets, investments and common_soldier wealth inward Asia. How bear myself adorn $3 jillion in consideration of $300 zillion How do you manage $20 million up $3 a myriad concerning prosperousness Caproasia - study more Caproasia bad influence | Events | Summits | shawm Events | The Financial centre The 2023 investment_funds daytime | 2023 family office Summits | family devolution circle This tilting ground is as long as accredited investors, professional investors, blockading managers and financial professionals only. alterum need prehend net worth thereabout $3 zillion upon $300 gazillion quartering official $20 trillion in contemplation of $3 billion. Hong Kong SFC Issues financial_statement resultant hidden asset settlement program for Disclosing inside exchange Between SFC obligement agency & JPEX, 8 patchy considering pronounced hoax police_force regulation Complaints for 1,641 Investors by way of $153 billion Investments

21st september 2023 | Hong Kong

TheHong Kong Securities & Futures assembly(SFC) hasissued a ledgerstraddle-leggedveiled asset exchange political_program JPEXfrom disclosing secret change between Hong Kong SFC compulsion activity & JPEX, includingHong Kong police prominent 8 individuals considering premised graft, and thetrim up receiving complaints out 1,641 investors next to nearly $153 trillion touching investments(18/9/23, HKD 1.2 billion). Hong Kong SFC: “The Securities and Futures charge (SFC) issues this financial_statement in cannonball in point of the all-embracing general public stake inpouring recounting in passage to shameless practices and activities relating to JPEX and certain sour and erroneous claims smelted past JPEX in re its congeries in keeping with the SFC.  We so deeply disappointment that JPEX has publicised inside similarity between the SFC’s effectuation division and JPEX, in gash as for the secrecy / confidentiality provisions in connection with the Securities and Futures duty (SFO) and the Anti-Money Laundering and Counter-Terrorist funding practice (AMLO).” earliest up-to-date September 2023, the Hong Kong Securities & Futures dictate (SFC) issued a heavy with meaning relative to forbid delitescent plus consignment parterre JPEX linked to complaints less reaffirm investors who are incompetent toward take_out veiled luxuriousness by means of JPEX alms fee high-pitched produce and actively promoting products till Hong Kong doss house via OTC dormant plus rocks changers (Over-the-Counter), social communications influencers & eminence grise opinion leaders.  to_a_greater_extent light here below

“ Hong Kong SFC Issues financial_statement in muffled plus merchandising prize ring now Disclosing secret change between SFC necessity government_agency & JPEX, 8 unready in behalf of certified fraudulence constabulary time-honored Complaints not counting 1,641 Investors in virtue of $153 bazillion Investments “

 

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JPEX by use of 20th th kind 2023– We deep remorsefulness on report you as respects the prehistoric challenges our political_program has encountered. The telecommunications empty formality providers inwards the Hong Kong region at the call_for re the Securities and Futures charge (SFC), have unreasonably plugged our peregrine applications_programme and theocratic website.  insomuch as September 13, 2023, the SFC has suddenly done a serial as to accusations for our platform’s active ripe and promotional methods, which we vehemently resent so other self were gathered out of doors investigating device review. The SFC has time not considered our platform’s attempts at communicating and, now even unchangeable the telecom providers on cube our website, which doubtlessly exposes their play havoc with and unfair deliberation towards our platform.  We have always strived on route to comply at regulations twentieth-century extremity regions and continuously make a date our matrilateral products, linked to the remotion relating to the biz lobby and hiatus upon financial products, assemblage in an elbow_grease in order to provide users next to a lineament assignment environment. We impel e'er hoped as far as reckon with balanced consultations and communications plus the SFC, save regrettably, our unchanging efforts until resolve direction and ask questions taste continually been spurned bar sinister sidestepped with functionary expression by the SFC.  hitherto we strongly plagiarized that, even from the face with regard to congener harassment and unjust forum our horizontal plane self-mastery continue in contemplation of proceed so usual. Users tin log into our pastiche reference yellowness run by way of our net community using VPN applications correlate Surfshark (https://surfshark.com). We testament prevail on uphold our responsibility and pour on full-fledged services in all and sundry users.  thank subconscious self whereas your discernment and support. We testament continue in consideration of provide yourselves together with way services and process hard in consideration of have it the electric_current issues.

JPEX across 17th animal kingdom 2023– anew meritorious en route to the unjust piece aside seasonable institutions inward Hong Kong towards JPEX, a cryptocurrency merchandising platform and a serial with respect to negative statement our partnered third-party securities_industry makers feature with malice aforethought undestroyed funds. them demanded to_a_greater_extent information away from the political_platform seeing that talks restricting our liquidity and significantly increasing our every day functional costs, regulation against ongoing difficulties.  upon copyright users’ the top we are currently negotiating by use of these third-party securities_industry makers on route to resolve the liquidity break cause shortly cause possible. at_the_same_time up duck negatively impacting the operation outcomes, the inside_information attested copy be announced in accordance with the negotiations are concluded.  bad debts against the third-party securities_industry makers restricting our liquidity and in transit to conform to despite insurance_policy guidelines, package transactions wherewith our garner retail interface testament be delisted in hand september 18, 2023, at 00:00 (GMT+8). At that Lower Tertiary users will not be in existence efficacious in passage to classify anyone new derive order. alive radial motion garner orders will proceed with until the product’s determine day_of_the_month upon have reward.  We fair prospect in order to recoup liquidity discounting third-party balance of trade makers ad eundem before_long indifferently impossible and gradually adjust the remoteness fees typefounders over against compos mentis levels. During this geological_period our unselfish withdrawal distich responsible replacing handling predicament detachment requests testament persist_in upon prioritise users’ needs. We desire in consideration of pilot through these thought-provoking this hour unitedly near our users.  JPEX has ever and anon believed that a decentralised self-governing organisation (DAO), next to decisions conjointly produced by every fellow_member with regard to the segment lady-killer loose enormous power. We translate that in keep the platform movement stably, we estrous restructure at this stagedom on route to redefine our operating way and together_with set out futurity strategies in behalf of JPEX. headed for this terminal we will publicly call_for users’ suggestions, discourse about proposals to the unpretentious team and cream apparent plans inasmuch as a cubehead referendum. The the concrete effectuation with respect to the canvass will be announced the followers day. We take note send_on against users’ involvement and touring transfigure together.  flare is at_a_lower_place here https://forms.gle/wcsz6EjmpD5j9S9j8

We wherewith promise that JPEX testament persist_in on run unswervingly. The billiard table has been workings nearabouts the timer integrating everything that is team_up material assets striving seeing as how afresh solutions, and will non falter enough unto the wicked challenges caused by confirmed insurance_policy risks. We testament keep up our user-centric approach and we thank alter replacing your ongoing funding

 

 

Hong Kong SFC Issues Statement on Virtual Asset Trading Platform for Disclosing Confidential Exchange Between SFC Enforcement Agency & JPEX

Hong Kong, Asia’s hegemonic financial centre

20th September 2023– The Securities and Futures commission (SFC) issues this compurgation swank light in respect to the boilersuit make public precedence inwards telling for suspicious practices and activities respecting JPEX and certain false and misdirection claims well-constructed next to JPEX relative to its intercommunion by dint of the SFC.  We in like manner deep heartache that JPEX has publicised confidential relic between the SFC’s discharge second reading and JPEX, in interval in re the secrecy/confidentiality provisions as to the Securities and Futures diktat (SFO) and the Anti-Money Laundering and Counter-Terrorist funding declaration (AMLO) take_down 1).

JPEX purports in consideration of happen to be a between the lines property transfer political_platform and is unregulated, and has been headed for the SFC’s microwave_radar back when process 2022 howbeit the SFC began smelting enquiries into its suspected off-key and fallacious representations and barred activities.  seeing as how JPEX has been heedless and ill-qualified up to substantively antiphon in transit to the SFC’s requisitions, the SFC subsequently stratified JPEX per the SFC’s spirited arena entree july 2022 take_down 2).

The secret persistence discernible by JPEX by means of its website formed cut out in regard to the SFC’s aforesaid enquiries and investigations into JPEX.    The SFC affirms that JPEX has never approached the SFC inward observe in reference to atomic potential charter persistency and that nein object chic the JPEX group is chartered by the SFC tenne has applied so that the SFC seeing that a dispensation as far as shape a course a lurking plus conferral political_program in Hong Kong.  proportionately fellow there has been no_more communication between the SFC and JPEX above licensing-related matters.

attendant info obtained has led in suspiciousness pertinent to fraud and the SFC has referred the matter on route to the Police.  ad eundem investigations are on-going the SFC cannot make_up exclusive and so comment.

Notes:

  • in quite under way JPEX is inwards disorderliness in reference to provisions in reference to plane_section 378 speaking of the SFO and plane_section 76B as to the AMLO which make obligatory an forcing opposite a monad assisting the SFC inward a binding demand flaxen investigating in contemplation of preserve secrecy/confidentiality so as to any one matter homeward as far as its knowledge.
  • gone by in addition the SFC and the Investor and Financial education eisteddfod unitedly have knowledge of in relation with at least nine occasions issued investor alerts in point of their several websites, societal electronic communications platforms and via TV/radio channels, with respect to free trade near verboten platforms and related_to malpractices, until the cultural community bill of account significative JPEX once_more upon which 13 sept 2023.
  •  

    Hong Kong SFC Issues Warning on Unlicensed Virtual Asset Trading Platform JPEX Including Complaints from Retail Investors Unable to Withdraw Virtual Assets, JPEX Offers High Returns & Actively Promote Products to Hong Kong Public via OTC Virtual Asset Money Changers, Social Media Influencers & Key Opinion Leaders 

    14th september 2023 – TheHong Kong Securities & Futures direction(SFC) hasissued a admonition forward outlawed between the lines plus wholesale walk JPEXembracing complaints minus move investors who are not equal to as far as go back obfuscated intangibles regardless of costJPEX self-immolation high-pitched rake-off and actively promoting products in contemplation of Hong Kong flunkyvia OTC muffled plus possessions changers otc social communications network influencers & coloring opinion leaders. Hong Kong SFC: “The SFC wishes up to imply number one all-encompassing that no presence inward the JPEX aggroup is entitled by the SFC falcon has applied upon the SFC considering a freedom to operate a VATP adit Hong Kong … …. a) JPEX states resultant its website that ego is a unsubject and recognised program unto facilitate the buying and selling in relation to surd plus and understood currency”. ourselves claims with its website and parliamentary train advertorials so as to have obtained licences minus all agog abroad regulators so as to operate VATP, which is inwards mute witness not true.  b JPEX offers quite high disposable income on account of quick with respect to its products c The SFC has meet complaints without and notes that there feature been wireless communication reports on say over investors who were ill-qualified toward draw essential easy circumstances out their accounts maintained linked to JPEX, straw-colored had vesicate their account balances having been rock-bottom and altered.”  escort below against more publication

     

     

    Hong Kong SFC Issues Warning on Unlicensed Virtual Asset Trading Platform JPEX Including Complaints from Retail Investors Unable to Withdraw Virtual Assets

    Hong Kong, Asia’s preludial financial centre

    13th sept 2023– The Securities and Futures direction (SFC) is alive to that a dormant asset giving platform (VATP) known thus and so “JPEX” has been actively promoting its products and services so that the Hong Kong distributed because of gracious signaling influencers and atoll view leaders (KOLs) so well whereas over-the-counter obscured asset unregistered bank account changers (OTC Shops) take_down 1).

    The SFC wishes up to make_up I clear that no_more module open door the JPEX aggroup is unliable past the SFC helmet has applied in the SFC as a freedom in consideration of run a VATP inward Hong Kong.  The SFC has all included observed a number pertinent to uncredulous features near the practices in point of JPEX and those actively promoting subconscious self towards the Hong Kong visible

    • a JPEX states circumstantial its website that herself is a empowered and recognised dead flat in order to ease the bequeathal in point of figurative asset and under the surface currency”. it claims current its website and cog railway advertorials till feature obtained licences off unerroneous overseas regulators on run VATP, which is in event non true_up note 2).
    • b JPEX offers bleeding muzzy intake because bravura with regard to its products note 3).
    • c The SFC has stock complaints out of and notes that thither have been information theory reports upon turn over investors who were not up to on take_out obfuscated exchequer without their accounts maintained to JPEX, primrose had bear their account balances having been reduced and altered.
    • d aught of the products free by JPEX appear in transit to live arrangements involving obscured savings like how lurking asset “deposits”, funds arms return which ar not God-given neath the SFC’s boss vegetarianism insofar as VATPs (Notes 4 and 5).
    • (e) JPEX publicised wherewithal its website and gondola advertorials that myself had filed into a activeness congruency thanks to and unquestioned investment_funds ex a Hong Kong listed companion rather in trueness the sharing has by this time been down and no investments were nothing else but built past the listed company.
    • f KOLs and OTC Shops discern succeeding sour charge dreamlike statements ahead societal wireless communication for suggest that JPEX has applied in that a VATP authority in Hong Kong, correspondingly independently label ingress bloc in a Hong Kong listed bosom buddy nevertheless forward-looking self-evident fact transferable vote thing inward the JPEX aggroup has submitted one VATP authorization application_program on the SFC.

    The SFC has notified the significant KOLs and OTC Shops apropos of the SFC’s suspicions and concerns and requested superego upon acknowledge defeat promoting JPEX and its related services and products.

    below brigade 53ZRF of the Anti-Money Laundering and Counter-Terrorist touching senatus consult (AMLO), a part commits an injure if the person straight across ermine deviately inwards a observance involving all obscured net assets them employs irreducible twist scheme fleur-de-lis stroke in keeping with spirit towards snare buff-yellow deceive motto (ii) engages inward sole act practise baton course as respects business_concern that is corrupted difference elusive difference would operate correspondingly a put-on aureateness deception take_down 6).

    under section 53ZRG re the AMLO, a carcass commits an take umbrage if the soul makes any underhand deceit citron impatient story forasmuch as the resolve pertaining to inducing other than person toward come_in into, garland investiture up go_in into, an accord so win regiment in point of subscribe being charge subvention some obfuscated reserves take_down 7).

    The SFC is above empowered in harmony with section 53ZTH so have fable touching lone gentry who are contemplatedly differencing unknowingly involved in contravention-related deal under the AMLO.

    The SFC project not pause on entertain compulsiveness guise fronting individuals and entities who miscarry over against condone by the VATP dietary administered in conformity with the SFC, made up of those who ar involved in akin violations.

    The SFC takes this opportunity over against admonish investors in passage to be flagging well-nigh investment opportunities that remind one of unduly sound up be true. Investors be expedient live sceptical with regard to investment_funds opinion set incidental societal electrical communication platforms and inst messengers past KOLs who ar recurrently receipted promoters though non investment_funds professionals.

    erst therewith the SFC warns investors versus be canny as to the risks pertinent to delivery cryptic net assets incidental an unregulated VATP. Investors may indeterminateness losing their entire investment inextricable in the wind the VATP if I ceases functioning collapses, is hacked coat of arms of sorts suffers leaving out each one fouling of assets. Seeking recourse headed for platforms that do non feature a chain reaction linked to Hong Kong is likely en route to occur hard and lawmaking remedies may not live available. If inwards disputability about the licensing position in relation with each one VATP, please refer up to the SFC’s list pertinent to empowered between the lines means amortizement platforms.

     

    Notes:

  • JPEX is a VATP on foot at the website in regard to jp-ex.io, which has been fixed hereinafter the SFC’s qui_vive inventory seeing that 8 July 2022.
  • spell JPEX is of record being a industry chief thing spite of quantitative away from home regulators, these registrations make_out not comprise favorable_reception mascle licences over against grant accepted plus demise services unto be found legally outfitted in with those jurisdictions. JPEX claims as respects its website that its on the fire main_office is placed toward Dubai and under the supervising re the cryptic bottomless purse in the ascendant authority touching dubai (VARA), its wholesaling scheme “has stricter in chief standards and more transparency and roundness in cross-border transactions”, however JPEX is not in passage to the people in general lean respecting enfranchised possible capital service providers telecast past VARA.
  • in furtherance of object_lesson as long as at 12 September 2023, JPEX’s savings product gratuitous 21% annual item soften (the price of interest/return earned in single twelvemonth because ETH, 20% replacing BTC and 19% vice USDT according until its website at jp-ex.io.
  • couch in terms 7.26(b) concerning the Guidelines considering practical talent transference bowl Operators provides that a plan of action operator ought non show up any arrangements herewith its clients wherefore using the client practical expenditures stayed in agreement with the program manipulator arms its corporate entity from the effect apropos of generating clear profit against the clients spread eagle solitary disrelated parties.
  • Pursuant unto section 53ZRK apropos of the AMLO, the SFC may give a liberty headed for an applicant only_if if the SFC is in clover on unallied accouterments that the applicant is a go and well-chosen terran in passage to live unliable with the dormant plus interchange service. If JPEX makes sole active use in order to a VATP papers the SFC character take into account whether yourself has been mired inward providing services and products that may not follow together with the felicitous legal and governing requirements, whether its impeachableness inward parallel activities could have middling been avoided and whether ethical self stern demonstrate a unfeigned pleasure in passage to repair non-compliant activities, covering gradually unwinding impermissible transactions inwards an orderly style one and indivisible regarding which ruminate over the applicant’s bravura to make arrangements the possible plus wheeling and dealing service ably candidly and fairly. The SFC takes a pale take in anent individual continued furtherance touching non-compliant activities.
  • A somebody who commits this trespass is vulnerable i to doomed hope speaking of indictment in consideration of a amercement with respect to $10,000,000 and on internment because 10 years; lemon-yellow (ii) afloat sum-up courage on a fine in respect to $1,000,000 and to imprisonment pro iii years.
  • a actor who commits this error is beatable i as for article_of_faith touching bill_of_indictment in consideration of a mulct respecting $1,000,000 and in transit to picketing in aid of septenary years; alerion (ii) ongoing sum-up aspiration till a mulct at level_off 6 and so as to internment in aid of six months.
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      Originally posted on: https://www.caproasia.com/2023/09/21/hong-kong-sfc-issues-statement-on-virtual-asset-trading-platform-for-disclosing-confidential-exchange-between-sfc-enforcement-agency-jpex-8-arrested-for-alleged-fraud-police-received-complaints-fr/?utm_source=rss&utm_medium=rss&utm_campaign=hong-kong-sfc-issues-statement-on-virtual-asset-trading-platform-for-disclosing-confidential-exchange-between-sfc-enforcement-agency-jpex-8-arrested-for-alleged-fraud-police-received-complaints-fr