Hong Kong Takes Action on Crypto Exchanges After JPEX Incident
After the JPEX issue, Hong Kong's SFC pushes for crypto exchange licenses to protect investors and plans to reveal applicants.
Hong Kong's Securities and Futures Commission (SFC) plans to share a list of cryptocurrency exchanges applying for licenses. This move follows the JPEX issue, resulting in many arrests. The SFC says this will highlight the dangers of using unlicensed crypto platforms. They aim to improve public information about potential risks.
Hong Kong's leader, John Lee, stressed the importance of licensing crypto platforms to keep investors safe. He promises more efforts to educate people about the risks involved.
So far, only OSL Digital Securities Limited and Hash Blockchain Limited have licenses. Some smaller companies have applied, but many big crypto exchanges haven't shown interest in getting a Hong Kong license yet.
