Defiant JPEX takes swipe at Hong Kong financial regulator as crypto exchange touts new plan to woo users
The embattled platform has outlined plans to offer new investors a deferred payout in a ‘DAO Stakeholders Dividend Plan’The exchange has also reiterated its stance that financial regulators caused the freeze of user funds when it warned that JPEX was unlicensedBlockchainDylan ButtsandXinmei ShenPublished: 10:00pm, 21 Sep, 2023Why you can trust SCMP
Under that plan, the company said it would distribute 49 per cent of the stakeholder dividends, with a total value of US$400 million.
By Thursday, investors who currently have assets frozen in JPEX would finish voting on the plan, which would allow them to convert their funds into DAO Stakeholder dividends with a repurchase ratio of one-to-one after two years, according to JPEX.