April

JPEX

The attitude of Hong Kong residents towards cryptocurrency has sharply worsened after the scandal with the JPEX cryptocurrency exchange.
A survey from the Hong Kong University of Science and Technology School examined the impact of the J<a href="https://crypto.news/hong-kong-police-arrest-11-people-in-ongoing-jpex-crypto-investigation/" data-type="link" data-id="https://crypto.news/hong-kong-police-arrest-11-people-in-ongoing-jpex-crypto-investigation/" rel="noopener noreferrer nofollow">PEX scandal</a> on public attitudes towards virtual assets.
The <a href="https://hkust.edu.hk/news/research-and-innovation/hkust-releases-survey-findings-public-attitudes-towards-virtual-assets" target="_blank" rel="noopener noreferrer nofollow">survey</a> began on Sept. 28, about 11 days after the allegations against&nbsp;JPEX were made public, and compared its results with a similar survey conducted between April and May.
The survey results showed that 41% of respondents would prefer not to hold virtual assets, up 12 percentage points from the May survey.
At the same time, only 20% of respondents will be ready to store virtual assets over time. This is down five percentage points from the previous survey – another sign that Hong Kong residents’ attitudes towards the cryptocurrency industry may worsen.
You might also like: <a href="https://crypto.news/hong-kong-plans-to-flag-suspicious-crypto-platforms-amid-jpex-scandal/" rel="noopener noreferrer nofollow"> Hong Kong plans to flag suspicious crypto platforms amid JPEX scandal </a>
HKUST experts admitted that the second study was conducted shortly after an alleged financial scam involving a cryptocurrency platform last month. However, the researchers did not mention the controversial crypto exchange directly.
Professor Allen Huang, associate dean of HKUST Business School, said the recent financial incident has brought more public attention to the cryptocurrency industry, leading to a “more conservative investment appetite.”
<blockquote class="wp-block-quote">
 “As virtual assets become increasingly a part of the digital economy, more educational initiatives are needed to enhance public understanding and awareness of the risks and potentials of this emerging field.” <cite>Allen Huang, associate dean of HKUST Business School</cite>
</blockquote>
In mid-September, Hong Kong’s Securities and Futures Commission (SFC) <a href="https://crypto.news/hong-kong-police-arrest-11-people-in-ongoing-jpex-crypto-investigation/" rel="noopener noreferrer nofollow">launched</a> an investigation into the JPEX crypto exchange. The regulator alleged that cryptocurrency influencers and the trading platform “made false or misleading statements on social media.”
In addition, the country’s police said they had received at least 83 complaints related to JPEX and virtual assets worth about HK$34m ($4.3m).
You might also like: <a href="https://crypto.news/jpex-to-become-dao-to-freeze-assets-for-2-years/" rel="noopener noreferrer nofollow"> JPEX to become DAO, to freeze assets for 2 years </a>

Hong Kong’s confidence in crypto sours amid JPEX scandal

crypto.news

Other articles published on Oct 18, 2023

What Changes Can We Expect from the Ethereum Cancun Upgrade? Special Event “2023 King of Prophecy...

Promising Osteoporosis Treatment Unveiled

Zetrix Luncurkan Token ZTX melalui IEO, Listing di Berbagai Platform

Prediksi Harga BTC, Analis: Bisa Turun 30 Persen

Israel Doubles Down on Blocking Crypto Funding of Hamas

Quantoz Payments Launches EURD: A Regulated and Customizable Digital Euro

Join our free newsletter for daily crypto updates!