Auzzi Shopping

Men's Weekly

.

JPEX Plans to Apply for Crypto Trading License with the Hong Kong Authorities

  • Written by Auzzi Shopping

NEW SOUTH WALES, AUSTRALIA - Media OutReach - 6 March 2023 - The licensing system for virtual asset service providers in Hong Kong will be officially launched on June 1st this year.

JPEX announced that it plans to apply for the latest crypto trading license given by the Special Administrative Region (SAR) Government in Hong Kong.


JPEX announced that it has plans to apply for the latest crypto trading license given by the Special Administrative Region (SAR) Government in Hong Kong. Some of the services JPEX will provide to customers in Hong Kong once the license has been granted include, but are not limited to spot trading, derivatives, and other crypto services such as staking.

SFC Launched a Consultation on Licensing

Hong Kong Securities and Futures Commission (SFC) announced a consultation On February 20 to solicit ideas from the market on "whether licensed platform operators should be permitted to provide services to retail investors" and "how to protect investors". Under the new licensing system, which will come into effect on June 1, 2023, all centralized virtual asset trading platforms operating in Hong Kong or marketing to Hong Kong investors will need to be licensed by the SFC. And the consultation will end on March 31. JPEX hopes that the new policy direction will set a new milestone for the cryptocurrency industry.

Jpex Is Fully Prepared to Apply for Hong Kong Crypto Trading License

JPEX is now fully prepared to apply for Hong Kong crypto trading license, after previously giving up several times due to the Hong Kong government's restrictions on the crypto industry.

Previously, the Hong Kong government only allowed users with a portfolio of at least HK$8 million (US$1 million) to trade in cryptocurrency investments. However, since Hong Kong is an international financial center, it should be open and accommodating to emerging financial services, including virtual asset services and new entrants to the global cryptocurrency industry, regardless of their assets. The impact of the previous policy has made it difficult for new users to participate in virtual asset trading.

JPEX said it will review related systems and controls to prepare for the new system, compliance with rules and regulations to ensure the application provides better service to customers.

With SFC finally changing its stance on cryptocurrencies which signifies the SAR government's open and friendly attitude, JPEX will continue to collect information about licensing system. And it will also be holding extensive discussions with personnel in its legal department to advance the licensing process.
Hashtag: #JPEX

The issuer is solely responsible for the content of this announcement.

About JPEX

JPEX Digital Asset Bank holds the Canadian MSB Fintrac license, the U.S. FinCEN issued by the MSB financial license, Australia ASIC issued by the operating license, Lithuania cryptocurrency exchange and wallet operator registration license. JPEX users of crypto assets will be all deposited in the offline cold wallet. JPEX also provides each user with a financial insurance coverage plan, the protection limit of 75,000 USDT, and 90% claims coverage in accordance with international financial regulations, protecting each real-name authentication platform users.

Follow JPEX

Today's Features at Auzzi

Automotive Industry Revolutionises Customer Experience

Australia's automotive industry, adapting to electric vehicles and changing ownership models, faces evolving customer service challenges. Dealerships and service centres nationwide are imp...

Smart Comfort Solutions for Melbourne Homes: Solar Batteries, Gas Heating & Evaporative Cooling

Discover how solar batteries, gas ducted heating, and evaporative air conditioning can keep Melbourne homes comfy and energy-efficient all year. Living in Melbourne, we know the weatherâ€...

Best Places to Get T-Shirts Printed in Sydney – Fast & High Quality

Looking to personalise a t-shirt or launch your own line of branded apparel? Sydney offers a variety of t-shirt printing shops that deliver quality, reliability, and quick turnaround - wheth...

How Sydney's Top Software Developers Are Driving the SaaS Boom

As a constantly evolving sector in a fast-paced digital world, Software as a Service (SaaS) remains a groundbreaking model for companies seeking user-oriented software solutions that are sca...

4 Benefits of Arranging Professional Conveyancing Services

The process of buying or selling can be complex and full of legal intricacies, which is why professional conveyancing services are recommended. A licensed conveyancer or solicitor can hel...

4 Benefits of Arranging Professional Conveyancing Services

The process of buying or selling can be complex and full of legal intricacies, which is why professional conveyancing services are recommended. A licensed conveyancer or solicitor can hel...

The Hibachi Birthday Surprise That Made My Sister Cry

The text from Mom came through at 10:37 AM: "Don't forget - your sister's birthday is tomorrow." Cue the panic. Not just any birthday - her 40th. And all I had planned was a sad grocery stor...