https://finance.yahoo.com/news/crypt...093000084.htmlThe Hong Kong Securities and Futures Commission (SFC) issued a warning on Wednesday against the use of the cryptocurrency exchange JPEX, accusing it of "suspicious features" and promoting misleading information about its licensing.
Online influencers and over-the-counter virtual asset money changers (OTC shops) were making false or misleading statements about JPEX having applied for a virtual asset trading platform (VATP) licence in Hong Kong, the city's chief financial regulator said in a statement posted to its website.
"No entity in the JPEX group is licensed by the SFC or has applied to the SFC for a license to operate a VATP in Hong Kong," it said.
https://www.thestandard.com.hk/secti...ion/17/256190/In response to the SFC's warning, JPEX reportedly acted quickly to limit the amount clients could withdraw to 1,000 Tether tokens - or USDT - but subject to an administrative fee of 999 USDT. That was lowered to 975 USDT later amid claims that each USDT was worth US$1.