Taiwan’s judicial authorities have apprehended top figures from the JPEX cryptocurrency exchange entangled in legal turmoil. The Taipei District Prosecutors Office took Chang Tung-Ying, the chief partner, and Shi Yu, an educator linked with JPEX, into custody as they face allegat...
Taiwan’s judicial authorities have apprehended top figures from the JPEX cryptocurrency exchange entangled in legal turmoil. The Taipei District Prosecutors Office took Chang Tung-Ying, the chief partner, and Shi Yu, an educator linked with JPEX, into custody as they face allegations of breaching banking and stringent anti-money laundering regulations.
JPEX Investigation Intensifies
Amid the ongoing investigation, Nine Chen, a popular Taiwanese singer previously associated as the brand ambassador for JPEX, has been brought in to testify. Conversely, Chen might transition from a witness to a defendant, depending on how the case develops.
This shift in Chen’s legal status would hinge on the determination of his involvement. Meanwhile, the repercussions of JPEX’s activities have led to more than ten individuals claiming damages, prompting them to pursue legal action against the exchange.
Previous Troubles in Hong Kong
As the investigation unfolds, the crypto community watches with keen interest. The rigorous action by Taiwanese authorities underscores the country’s commitment to enforcing financial and regulatory compliance, setting a precedent in the digital currency landscape.