In the future, the Hong Kong Securities and Futures Commission will take the initiative to announce the move of unlicensed exchanges, and this news has attracted widespread attention. Members of the Legislative Council have expressed that lessons should be learned from JPEX, supervision should be strengthened, and the stability of the financial market should be guaranteed. Under this highly concerned topic, let us explore the background, significance and possible impact of this move in depth.

From a historical perspective, the risks that unlicensed exchanges bring to the financial market cannot be ignored. In the past JPEX incident, due to poor supervision, investors suffered huge losses and the market order was seriously damaged. Therefore, the Hong Kong Securities and Futures Commission's initiative to announce the move of unlicensed exchanges this time is undoubtedly learning from past lessons and trying to curb risks before they appear. This forward-looking regulatory measure will help maintain the stability of the financial market and protect the legitimate rights and interests of investors.

The supervision of unlicensed exchanges requires not only the efforts of the government and regulatory agencies, but also the joint participation of the whole society. Investors should enhance their risk awareness, invest rationally, and not blindly follow the trend to avoid losses. At the same time, financial institutions and practitioners should also strengthen self-discipline, abide by relevant laws and regulations, and must not engage in illegal and irregular trading activities. Only with the joint efforts of all parties can a healthy and stable financial ecology be built.

In addition to strengthening supervision, improving the level of financial technology is also one of the important ways to prevent the risks of unlicensed exchanges. With the development of technologies such as blockchain and artificial intelligence, regulators can use advanced technical means to improve regulatory efficiency and timely discover and respond to potential risks. Through technical means, regulators can achieve real-time monitoring of transaction data, strengthen early warning and intervention in the market, and effectively curb the development momentum of unlicensed exchanges.

For investors, it is crucial to choose compliant and reputable exchanges for investment. When facing various investment channels, investors should choose carefully and not covet temporary high returns while ignoring the existence of risks. Only by choosing compliant exchanges and abiding by trading rules can we protect our legitimate rights and interests and avoid falling into the risks brought by unlicensed exchanges.

The Hong Kong Securities and Futures Commission’s announcement of unlicensed exchanges also reminds us that the stability of the financial market requires the joint maintenance of the whole society. Governments, regulators, financial institutions, investors, and each subject participating in the market should assume their own responsibilities and jointly build a safe, transparent and orderly financial market environment.

In summary, the Hong Kong Securities and Futures Commission’s announcement of unlicensed exchanges is to prevent potential risks in advance and maintain the stability of the financial market. Learning lessons from the JPEX incident and strengthening supervision are important measures to ensure the healthy development of the financial market. In future financial supervision, we need to continue to learn, innovate, and work together to safeguard the stability and security of the financial market. I hope that through our joint efforts, we can build a more prosperous and robust financial ecology.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120Btc.com) News: JPEX has been warned by the Hong Kong Securities and Futures Commission on the 13th last week, and it is still facing difficulties in withdrawing funds. It has even been exposed that it is suspected of secretly transferring assets and registering "dummy companies"... There are many doubts.

Hong Kong legislator: Unlicensed trading platforms can only be investigated by the police

According to the Hong Kong Wen Wei Po report on the 17th, the current virtual asset trading platform is not a lawless place in Hong Kong. The relevant platform must be licensed and regulated by the Securities and Futures Commission. Currently, there are only two licensed platforms in Hong Kong. If the platform goes bankrupt, customers can receive a maximum compensation of 500,000 Hong Kong dollars. It should be noted that JPEX is not on the licensed list and customers are not protected.

In response, Legislative Council Financial Sector Member Chan Chun-ying pointed out to the Hong Kong Wen Wei Po that unlicensed trading platforms are not regulated by the Securities and Futures Commission, so the case can only be handed over to the police for investigation in the direction of fraud.

According to the Hong Kong police, as of last Friday, nearly 100 people have reported the case, and the amount involved is about 34 million Hong Kong dollars.

Hong Kong legislator: The SFC will remind investors of unlicensed platform advertisements

Due to JPEX's overwhelming publicity, which attracted a large number of investors, this case has a wide range of implications. Many users also pointed the finger at the SFC for not intervening earlier, which is considered to be one of the reasons for the increasing number of victims. However, Chen Zhenying explained: The SFC has always been monitoring the problem of unlicensed operations, but the SFC must collect evidence to prove that the platform has business operations before intervening. Since the platform is unlicensed, it is not within the scope of the SFC's supervision, and customers cannot receive compensation if it goes bankrupt.

However, after learning from this experience, he said that if the SFC finds that an unlicensed trading platform sells advertisements in the future, it will remind investors online, and investors should also check the SFC's list of licensed trading platforms before making investments.

JPEX Announcement: Market Makers Lock Funds

Last night, JPEX issued another special announcement stating that: Due to the unfair treatment of the JPEX cryptocurrency trading platform by relevant institutions in Hong Kong and the series of negative news released, the third-party market makers that the platform cooperates with temporarily locked funds and required the platform to provide more information for negotiation, limiting the platform's liquidity, greatly increasing our daily operating costs, and causing operational difficulties.

According to this announcement, JPEX is suspected of pushing the responsibility of the platform's inability to withdraw funds to the "SFC" and "market makers". However, the announcement also mentioned that if the problem of insufficient liquidity is solved, the withdrawal fee will be gradually adjusted to a normal level.

As of press time, the limit on JPEX withdrawals is 1000U, and the handling fee is 975U.