Authorities supervision is required to guard traders and crack down on unlicensed platforms, Lee stated in accordance with the report. The Hounax case follows the same one involving crypto trade JPEX, which led to the arrest of six folks in September after greater than a thousand complaints involving a complete of $128 million have been filed. The Securities and Futures Fee (SFC) stated JPEX was additionally working and not using a license, prompting Lee to name for stronger licensing legal guidelines on the time.
