Hong Kong Legislative Council member Wu Jietzhuang: The JPEX case as a singular event will not affect Hong Kong's overall cryptocurrency regulatory policy

ChainCatcher news, in response to the concerns of many industry insiders that the recent unlicensed cryptocurrency exchange JPEX case in Hong Kong may lead to more cautious cryptocurrency regulatory policies in Hong Kong, Legislative Council member Wu Jiezhuang stated in an interview with ChainCatcher: "The JPEX case, as a single event, will not overall affect Hong Kong's cryptocurrency regulatory policies. Currently, the JPEX case has not been adjudicated, and it only indicates that the exchange has suspicions and possibilities of fraud, which may not involve cryptocurrency trading activities. I have also communicated with the leaders of government departments, and they similarly believe that the JPEX incident will not have a significant impact on overall policy. Instead, they view this incident as a good education for investors, emphasizing that trading should be conducted on licensed exchanges to ensure asset safety."

In addition, Member Wu Jiezhuang also mentioned that the JPEX case has highlighted some regulatory loopholes, such as the fact that offline cryptocurrency exchange shops have not yet been included in regulation, which is something the government needs to improve in the future. Furthermore, the government should disclose suspicious information as early as possible and timely remind users to minimize their losses.