Crypto Platform JPEX Shuts Down Trading Amid Hong Kong Probe (2)

Cryptocurrency platform JPEX shut down some trading during an ongoing investigation by the Hong Kong police.

Users won’t be able to place new orders on its Earn Trading interface from Monday, according to a statement Sunday, referring to some wealth management products. JPEX is negotiating with third-party market makers to resolve a liquidity shortage, the statement said.

Hong Kong police are investigating JPEX after a referral from the Securities and Futures Commission, the markets regulator. The SFC has said the firm was operating in the city as an unlicensed entity, the first such warning by the watchdog since ...