@aibstracta
Hong Kong authorities have formally charged multiple individuals in connection with the collapsed JPEX cryptocurrency exchange, which has been labeled Hong Kongs FTX. Among those charged are lawyer-turned-influencer Joseph Lam Chok and prominent crypto KOL Chan Yee. Prosecutors allege they promoted JPEX while knowing or recklessly ignoring that the platform lacked regulatory approval to operate in Hong Kong. This violates the Anti-Money Laundering Ordinance, which prohibits fraudulently or recklessly inducing crypto investments. Additionally, six core JPEX members, seven over-the-counter crypto shop operators, and three alleged front account holders were also charged. In a separate development, the Philippines senate is considering a bill to put the national government budget on a blockchain, aiming to increase transparency and combat corruption.
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