JPEX is announcing that they have made plans to apply for the latest crypto trading license given by the Special Administrative Region (SAR) Government in Hong Kong.
The latest milestone JPEX hopes to accomplish comes after the Securities and Futures Commission (SFC) in Hong Kong launched a Consultation to solicit ideas from stakeholders of the financial sector as to whether licensed platform operators should be permitted to provide crypto-related services to retail investors on 20 February 2023. 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.
JPEX is making strides to get this license after giving up several times due to previous restrictions by the government of Hong Kong. The restrictions allowed JPEX to ONLY provide services to what SAR described as “PROFESSIONAL INVESTORS” with a minimum of $1 million in investment budget. Considering the crypto economy is open to all types of traders (low to high-income traders), SAR’s decision made it difficult for novices or beginner traders to get involved with the highly-lucrative blockchain technology-backed crypto sector.
In compliance with rules and regulations, JPEX is always ready to cooperate with the appropriate licensing authorities for the latest regulatory documents that ensure that our customers receive better services. With the SAR government finally open to changing its stance on the types of services that can be provided by crypto trading platforms through the granting of the latest licenses, JPEX looks forward to collecting information from appropriate parties. Aside from this, JPEX will be holding extensive discussions with personnel in its legal department and is prepared to cooperate with authorities on all the essential parts of the licensing process.