The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west?
This paper investigates the challenges and effectiveness of Hong Kong’s regulatory framework for digital assets and cryptocurrencies in the wake of the JPEX Scandal. The scandal serves as the first significant test of the city’s regulatory measures aimed at protecting consumers and investors from fr...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2025-02-01
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| Series: | Frontiers in Blockchain |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fbloc.2024.1492739/full |
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| author | Noble Po Kan Lo Noble Po Kan Lo Tony Hon Yiu Lau Tony Hon Yiu Lau |
| author_facet | Noble Po Kan Lo Noble Po Kan Lo Tony Hon Yiu Lau Tony Hon Yiu Lau |
| author_sort | Noble Po Kan Lo |
| collection | DOAJ |
| description | This paper investigates the challenges and effectiveness of Hong Kong’s regulatory framework for digital assets and cryptocurrencies in the wake of the JPEX Scandal. The scandal serves as the first significant test of the city’s regulatory measures aimed at protecting consumers and investors from fraudulent activities within the crypto space. The study delves into the background and development of blockchain technology and cryptocurrencies, highlighting their rapid evolution and the associated regulatory challenges. By examining the JPEX case, the paper evaluates the robustness of Hong Kong’s regulatory tools and their ability to balance consumer protection with fostering innovation. The paper employs a doctrinal legal methodology, supplemented by a case study of JPEX, to assess whether the current regulatory framework is adequate or if further adjustments are required. The findings suggest that while significant strides have been made, certain gaps remain, particularly concerning decentralised finance (DeFi) and decentralised autonomous organisations (DAOs). The paper concludes with recommendations for enhancing regulatory clarity and ensuring the sustainable growth of Hong Kong as a global crypto hub. |
| format | Article |
| id | doaj-art-2d7ef6cf4eff41b9a22f7e6ff62685e1 |
| institution | Kabale University |
| issn | 2624-7852 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Blockchain |
| spelling | doaj-art-2d7ef6cf4eff41b9a22f7e6ff62685e12025-02-12T04:11:06ZengFrontiers Media S.A.Frontiers in Blockchain2624-78522025-02-01710.3389/fbloc.2024.14927391492739The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west?Noble Po Kan Lo0Noble Po Kan Lo1Tony Hon Yiu Lau2Tony Hon Yiu Lau3College of Professional and Continuing Education, Hong Kong Polytechnic University, Hong Kong, Hong Kong SAR, ChinaDepartment of Educational Research, Faculty of Arts and Social Sciences, Lancaster University, Lancaster, England, United KingdomLau, Horton & Wise LLP, in Association with CMS Hasche Sigle, Hong Kong LLP, Hong Kong, ChinaFaculty of Law, The University of Hong Kong, Pokfulam, Hong Kong SAR, ChinaThis paper investigates the challenges and effectiveness of Hong Kong’s regulatory framework for digital assets and cryptocurrencies in the wake of the JPEX Scandal. The scandal serves as the first significant test of the city’s regulatory measures aimed at protecting consumers and investors from fraudulent activities within the crypto space. The study delves into the background and development of blockchain technology and cryptocurrencies, highlighting their rapid evolution and the associated regulatory challenges. By examining the JPEX case, the paper evaluates the robustness of Hong Kong’s regulatory tools and their ability to balance consumer protection with fostering innovation. The paper employs a doctrinal legal methodology, supplemented by a case study of JPEX, to assess whether the current regulatory framework is adequate or if further adjustments are required. The findings suggest that while significant strides have been made, certain gaps remain, particularly concerning decentralised finance (DeFi) and decentralised autonomous organisations (DAOs). The paper concludes with recommendations for enhancing regulatory clarity and ensuring the sustainable growth of Hong Kong as a global crypto hub.https://www.frontiersin.org/articles/10.3389/fbloc.2024.1492739/fullcryptocurrency regulationJPEXblockchain technologyHong Kong securities and futures commissiondecentralised financedecentralised autonomous organizations |
| spellingShingle | Noble Po Kan Lo Noble Po Kan Lo Tony Hon Yiu Lau Tony Hon Yiu Lau The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? Frontiers in Blockchain cryptocurrency regulation JPEX blockchain technology Hong Kong securities and futures commission decentralised finance decentralised autonomous organizations |
| title | The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? |
| title_full | The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? |
| title_fullStr | The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? |
| title_full_unstemmed | The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? |
| title_short | The JPEX scandal: a test case for Hong Kong’s new cryptocurrency regulatory regime or is it still the wild west? |
| title_sort | jpex scandal a test case for hong kong s new cryptocurrency regulatory regime or is it still the wild west |
| topic | cryptocurrency regulation JPEX blockchain technology Hong Kong securities and futures commission decentralised finance decentralised autonomous organizations |
| url | https://www.frontiersin.org/articles/10.3389/fbloc.2024.1492739/full |
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