The Hong Kong Securities and Futures Commission recently announced that the four institutions that are applying for virtual asset trading platforms (VATP) are: HKVAX, HKBitEx, Hong Kong BGE, and Victory. Currently, there are two platforms licensed by the China Securities Regulatory Commission, including OSL Exchange and HashKey Exchange. Liang Fengyi reminds investors that scams will be difficult to detect in advance and they must pay special attention to the high interest rates that can be earned by depositing virtual asset trading platforms to avoid high interest traps and stay alert.
Liang Fengyi pointed out that the China Securities Regulatory Commission had become suspicious of JPEX as early as last year and could not see other places where JPEX claimed to have licenses to apply for licenses. In April and May of this year, it was discovered that JPEX was taking more aggressive measures in operations, including claiming to provide investors with returns of more than 10 percentage points to 20%. After the relevant regulations came into effect in June this year, the China Securities Regulatory Commission conducted an investigation and emphasized that it would take time to collect evidence. By September this year, when fraud was discovered, it was referred to the police and has been in constant communication with the police.
