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"The JPEX cryptocurrency platform's fraud case continues to unfold, with an estimated loss of 1.4 billion Hong Kong dollars, causing great hardship for many victims. To raise awareness among the public, the Hong Kong Securities and Futures Commission (SFC) announced today that it will release four lists of virtual asset platforms, including the ""Applicant List,"" for investors to check if platforms have made false statements.
The SFC will release the following lists of virtual asset platforms: ""Licensed Platform List,"" ""Closed Platform List,"" ""Treated as Licensed Platform List,"" and ""Applicant List."" The platforms currently applying for virtual asset licenses include:
- HKVAX
- HKBitEx
- Hong Kong BGE
- Victory
Regarding the decision to release the ""Applicant List"" for investors to reference, the SFC had initially considered it ""inappropriate"" during a press conference held last week and emphasized focusing on educating investors. However, their stance has reversed within less than a week.
According to a report by RTHK, Leung Lok Yan, the SFC's Director of Licensing and Fintech, stated that the addition of the ""Applicant List"" aims to inform investors about the accuracy of the statements made by trading platforms regarding their license applications. She emphasized that the platforms listed in the ""Applicant List"" are only ""in the process of applying for licenses"" and have not received licenses. If the public wishes to invest in virtual assets, they should refer to the SFC's ""Licensed Trading Platform List.""
Additionally, the SFC plans to optimize and release a ""Suspicious Virtual Asset Trading Platform List"" to assist the public in being vigilant about unlicensed or suspiciously operated platforms in Hong Kong.
The SFC will also collaborate with the Investor Education Centre to launch a series of public awareness campaigns aimed at raising anti-fraud awareness and strengthening investor education. They will enhance intelligence gathering, monitor suspected illegal platforms, and take legal action or refer cases to the police as necessary.
The SFC encourages the public to submit complaints through an online complaint form regarding any suspicious activities they encounter.
The SFC also stated that it will explore establishing a dedicated channel with the police to share information about suspicious activities and violations by virtual asset trading platforms and investigate cases to bring wrongdoers to justice.
Huobi and OKX are notably absent from the list. Previously, Justin Sun stated that he expected to obtain a Hong Kong license within 6 to 12 months. As far as he knows, there are a total of five exchange operators, including Huobi, who intend to apply for licenses: OKX, Gate.io, Bybit, Bitget. OKX's Global Chief Business Officer Lennix Lai has also stated to the media that OKXHK's compliance license application in Hong Kong is in the final stages of preparation, with hopes of obtaining it in the first or second quarter of next year.
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Post time 27-9-2023 11:10:11
