Viewpoint: How about the next step of JPEXs departing from the Hong Kong Securit

Source: Hong Kong 01

01 Review Editor Room

JPEX cases of virtual asset trading platform, police arrested eight people including Lin Zuo, accused them of suspected scamming, and revealed that at least 1641 reports were received, involving nearly 1.2 billion yuan of "deposit".

Chief Executive Li Jiachao actively stated on the morning of Tuesday (19th) that the incident reflected the importance of investing in the regulatory licensed trading platform, as well as paying attention to and promoting investor education to ensure that the public fully grasped the risks and operations of such assets to fully grasp the risks and operations of such assets.Essence

and a press conference until the afternoon, the police pointed out that many reporters did not know the status of the trading platform involved in the case.The trading platform that will be regulated.

There is no doubt that investors must have their responsibilities and should understand products and related risks before investing.However, as many people pointed out that the JPEX involved in the case has been in Hong Kong for a period of time, and there are very mainstream publicity advertisements, which is believed that there is no problem.One key is the issue of licensed or not.

On the one hand, JPEX claims to hold licenses (or is applying) and recognized; on the other hand, the CSRC first included its website on the "unlicensed company and suspicious website list" last year.JPEX did not receive cards to be issued by the Securities Regulatory Commission, and did not apply for licenses to the CSRC.In terms of objective results, the "list of unlicensed companies and suspicious websites" is obviously not enough to play a reminder.This may also be because there are many websites on the list, and citizens generally may not be checked.

Secondly, although the newly revised regulations (regulations on money laundering) stipulates that all trading platforms operating or actively promoting virtual asset services in Hong Kong will be issued from June 1st this year to be issuedThe card, but the CSRC also provides a one -year transition period at the same time, allowing the trading platform that had already been operating to either apply for licenses and regulatory regulations, or to end the business in an orderly manner.

The Legislative Council Act Committee also agreed at the time that the transition period could order the existing platforms in an orderly manner to exit the market in order to prevent customers from suffering unnecessary losses.Representatives of the Securities Regulatory Commission even said at the meeting that during the transition period, the applicant could be regarded as a license when he waited for the Securities Regulatory Commission to make a decision.It can be seen that the trading platform that has been operating but has not been issued after June may not be considered a major problem.Whether they end the business in an orderly manner within this year, or are still actively operating, and have not seen very strict regulations.

The eight people were arrested this time, and the preliminary charged by the police was also conspiracy to scam, rather than cracking down on the 53ZRF Article 53ZRF or 53ZRG of the Money Laundering Regulations, that is, the deception in virtual asset transactions, and the promotion of falsehood in virtual asset servicesstatement.

The representatives of the CSRC have repeatedly emphasized at the press conference that they have not had the power to supervise the virtual asset trading platform in the past. After obtaining the empowerment in June, they also need to investigate JPEX.On September 13th, no name and naming warning was made.However, the Securities Regulatory Commission's statement on August 7 only mentioned that "some unprecedented business techniques that have not been issued by licensed virtual asset trading platforms", in terms of objective results, society does not seem to have sufficient to be attentive to JPEX.

The transition period only started for four months. Will there be other virtual asset trading platforms for more than half a year, but they do not apply for licenses but continue to operate, and even cause investors to suffer losses?When asked how many platforms were applying for licenses and how many diplomatic agents (OTCs) on the market, the CSRC failed to provide it and mentioned that their regulatory power did not cover off -site transactions.Will this be derived from the risk of improper operation and fraud in the future?

When a third reading of the Legislative Council in December last year passed the amendment to the Money Laundering Regulations, Chen Zhenying, the chairman of the Act Committee, has mentioned that the repair does not include the trading of virtual assets outside the market, and the virtual asset point -to -point transaction.The implementation of the regulatory system considers whether to further expand the scope of regulation in the future. "Since Li Jiachao said, "As for the development of virtual assets, the policy of the SAR government is to have an effective regulatory system to ensure investors." This JPEX incident may be an opportunity to review from speed.