Public sentiment towards cryptocurrency in Hong Kong has declined following the JPEX crypto exchange scandal, according to a survey conducted by The Hong Kong University of Science and Technology’s business school. The survey aimed to understand the impact of the scandal on public attitudes towards virtual assets. The initial findings revealed that 41% of respondents would prefer not to hold virtual assets, a 12 percentage point increase from a previous survey conducted in May. Additionally, only 20% of respondents expressed a desire to hold virtual assets in the future, down five percentage points from the earlier survey. The JPEX scandal, which involved an alleged financial fraud of a cryptocurrency platform, has shaken the crypto community and contributed to a more conservative investment appetite among Hong Kongers. The survey results highlight the need for educational initiatives to enhance public understanding of the risks and potentials of the cryptocurrency industry. The Hong Kong Police Force and the Securities and Futures Commission have established a cryptocurrency-focused working group to address illicit activities on exchanges in response to the JPEX saga.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	negative
Relevance Score	1
People	None
Companies	HKUST’s business school, Securities and Futures Commission, The Hong Kong University of Science and Technology’s business school, JPEX, Hong Kong Police Force
Currencies	None
Securities	None