Hong Kong Probe Into Crypto Exchanges JPEX Results in Arrest

Hong Kong cryptocurrency exchange JPEX has suspended trading following a probe by the Hong Kong Securities and Futures Commission (SFC), which resulted in the arrest of one person attached to the exchange, according to a local media report. Hong Kong-based JPEX has been operating in the territory without a license, the SFC says, and police have received numerous complaints about the platform. Amid these liquidity challenges, JPEX said it will delist all transactions on its Earn Trading interface as of Monday, while ensuring ongoing orders and adjusting withdrawal fees. The exchange also said it is considering restructuring as a Decentralized Autonomous Organization (DAO).

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