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Hong Kong to tighten regulation of cryptocurrencies after arrests linked to JPEX trading platform

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Hong Kong’s leader has said the territory will tighten regulation of digital assets after police arrested six people following allegations of fraud at an unlicensed cryptocurrency exchange in the city.

HONG KONG — Hong Kong’s leader said Tuesday that the territory will tighten regulation of digital assets after police arrested six people following allegations of fraud at an unlicensed cryptocurrency exchange in the city.

The SFC also said some investors said complained of being unable to withdraw their virtual assets from JPEX accounts or of finding their balances were “reduced and altered.”Hong Kong’s chief executive, John Lee, told reporters Tuesday that the government would step up efforts to educate investors and remind them to use only platforms licensed by SFC.

 

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