The virtual asset trading platform JPEX is suspected of fraud. Liang Fengyi, CEO of the China Securities Regulatory Commission, said that this incident allows regulatory agencies to strengthen supervision of virtual asset activities more comprehensively, reflecting the importance of supervision in promoting the development of the industry. She said that there are already many safeguards in place to ensure that investors will not change Hong Kong’s announced virtual asset development policy because of suspected illegal activities.
Liang Fengyi emphasized that the original intention of formulating virtual asset supervision regulations was to provide a regulated channel so that investors’ assets could be isolated and protected. She said that other financial products cannot completely eliminate fraud.
The most important thing is to have a mechanism to reassure investors. In the future, we will strengthen information dissemination and investor education, hoping to promote the development of the industry.
Liang Fengyi reiterated that since the regulatory laws related to virtual assets came into effect on June 1, and the China Securities Regulatory Commission has obtained more comprehensive powers to investigate illegal propaganda, it has continued to collect evidence on the JPEX case in the past three months. However, the investigation takes time and the target of the investigation must be determined. In response, it emphasized that it has been communicating with the police on cases of suspected fraud.
