Wu Jiezhuang: The Hong Kong Legislative Council plans to read the new law on stablecoins and over-the-counter transactions for the first time at the end of this year or early next year. The suspects involved in the JPEX case may be arrested soon.

Odaily News Legislative Council member Wu Jiezhuang, who helped the victims of the JPEX case to claim compensation, said that Interpol has issued a red warrant for Wong Chung-kit and Mok Chun-ting. He believes that the police will definitely find a lot of evidence to prove the roles played by the people involved in the case, and also prove that blockchain and the Internet are not beyond the law, and the scammers will definitely be brought to justice. He also pointed out that the warrant is not simply symbolic, because governments of various countries attach great importance to commercial fraud cases and will cooperate and support them. It is expected that the relevant persons will be arrested and brought to justice soon. Wu Jiezhuang also said that the Legislative Council will enact two new laws on virtual assets in the future, including stablecoins and over-the-counter trading laws, which are expected to be read in the Legislative Council for the first time at the end of this year and early next year. He reminded that if someone claims that investing in virtual currencies has low risks and high returns, you must be careful; second, all investment products must be purchased from licensed institutions, and you can refer to the relevant information of the Securities and Futures Commission; finally, the SAR government can increase investor education resources. (OrangeNews)