The virtual asset trading platform JPEX was suspected of fraud. The Hong Kong Securities and Futures Commission once stated that it was inappropriate to publish the list of applicants for the virtual asset trading platform, and later announced to strengthen relevant disclosures.
In an exclusive interview, Leung Ting-bang, former chairman of the Hong Kong Securities and Futures Commission, said that the authorities’ earlier explanation that disclosing the list of applicants may mislead the public into thinking that the relevant platforms will be subject to supervision has certain reasons, but a better approach is to publish the list, as long as it is emphasized that the platforms on the list are not Licensing legal status is enough.
Liang Dingbang believes that the China Securities Regulatory Commission may not have noticed the turbulent public sentiment earlier and can disclose information earlier. However, virtual assets are new and supervision may need to make continuous judgments at different times. He believes that a 180-degree turn in the regulatory attitude will affect the prestige, and the China Securities Regulatory Commission Whether the law enforcement can be more intense is a matter of opinion, and it is difficult to comment on whether supervision is right or wrong.
Liang Dingbang mentioned that there have always been regulatory loopholes in virtual assets in the past because the nature of the assets did not meet the regulatory scope of the Securities and Futures Ordinance. Until the Legislative Council passed the Anti-Money Laundering Amendment Bill, the new virtual asset trading platform licensing system was launched in June this year. Effective July 1, the China Securities Regulatory Commission will have the legal power to supervise virtual assets. He believes that the current design of anti-money laundering regulations can define virtual assets, but in the future the market may design new assets that completely escape the scope of existing anti-money laundering regulations. He believes that regulatory agencies must continue to reflect in the future. Ordinary citizens may not understand the definition of virtual assets, how to manage them, the technology behind them, etc. The authorities need to strengthen investor education.
Liang Dingbang also pointed out that in recent years, the best return on investment may only be about 6%, and some investment tools claiming to be as high as 20% are rare. He called on ordinary investors not to buy investment tools similar to JPEX’s platform coins.
