Special Announcement 20230921

Dear JPEX Users,

As a Web3 organization aiming to advance blockchain technology, JPEX has always seen the structure of physical companies as an obstacle to the global promotion of cryptocurrencies, and we refuse to be constrained by geographical boundaries. Thus, the JPEX team has never had a fixed work location, and our team members are located in various regions worldwide. We even issued a recruitment announcement in June this year to expand our team. However, before we could successfully recruit any staff in the Hong Kong region, the platform was subjected to a series of unfair suppressive actions by the Securities and Futures Commission (SFC) of Hong Kong.

Like other exchanges such as Binance, OKX, Bitget, Bybit, and Huobi, JPEX has always issued its own token and dedicated itself to promoting the cryptocurrency industry. Yet, the SFC has dealt with our platform with vague guidelines and trumped-up charges, even instructing telecom providers to directly block our platform, disregarding our wish to have rational consultations and communications with the SFC.

Such unfair bureaucratic practices have strengthened our determination to pursue the path of a Decentralized Autonomous Organization (DAO). We hope to free the platform from the constraints of structure, invite more stakeholders to monitor and improve the platform’s operating strategies, and maximize the benefits for our users.

The referendum conducted today is a significant step towards the transformation into a DAO and will significantly impact the platform’s future development and next steps. We hope that through this referendum, the platform can quickly overcome its difficulties and get back on track.

Regardless of the circumstances, JPEX will continue operating steadfastly. We will stand our ground and not succumb to the stern challenges posed by this irreversible policy risk!

Thank you for your continued support!

September 21, 2023


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