Hong Kong police are investigating the JPEX virtual asset trading platform scam. Since September 2023, they have arrested 80 people and frozen assets worth approximately HKD 228 million. The case involves over 2,700 victims with losses exceeding HKD 1.6 billion. The police are conducting a new round of prosecutions and are still identifying the masterminds and accomplices behind the scenes.

Hong Kong police are investigating the JPEX virtual asset trading platform scam. Since September 2023, they have arrested 80 people, frozen assets worth approximately HKD 228 million, and over 2,700 victims are involved with a total amount of HKD 1.6 billion. Authorities are searching for the mastermind and accomplices.

Gate News reports that on March 26, a leading polysilicon company in Xinjiang (a core raw material for the semiconductor and photovoltaic industries) was fined and had its illegal gains confiscated by regulators for illegally supplying power to virtual currency mining activities. The total penalty exceeded 100 million yuan. It is understood that local authorities are intensifying supervision of virtual currency mining, requiring comprehensive inspections and strictly prohibiting companies from illegally re-selling power in any form. Currently, Xinjiang has explicitly classified virtual currency mining as an industry to be phased out, and related enforcement actions are ongoing.

Alchemy Pay announces that its Hong Kong strategic investor HTF Securities has received approval from the Hong Kong Securities and Futures Commission to upgrade to virtual asset trading services, covering both professional and retail investors. Meanwhile, Alchemy Chain stablecoin payment public chain launched its testnet in March, with over 150,000 test addresses.

Futu Holdings has announced that its wholly-owned Cheetah Trading Platform has obtained comprehensive licenses and officially commenced operations, becoming Hong Kong's first licensed virtual asset trading platform operated by a brokerage. The platform will integrate deeply with Futu Securities to provide comprehensive financial services.

Gate News: On March 26, according to Gate market data, as of press time, PROVE (Succinct) is trading at $0.2859, up 16.16% in the last 24 hours, with a high of $0.3868 and a low of $0.2228. The 24-hour trading volume reached $1.7838 million, with a current market cap of approximately $55.7505 million. Succinct is an applied cryptography company building a decentralized prover network dedicated to developing and advancing zero-knowledge proof technology. The company developed SP1, currently the world's fastest zero-knowledge virtual machine, which has been integrated into critical infrastructure, securing over $4 billion in value. In an era of increasingly realistic AI-generated content, Succinct leverages cryptographic technology to capture at the source

Gate News report: On March 24, according to Gate market data, as of press time, CSPR (Casper) is trading at $0.0043, up 32.24% in the last 24 hours, with a high of $0.0046 and a low of $0.0032, and 24-hour trading volume reached $1.1211 million. Current market cap is approximately $67.715 million. Casper is a Proof of Stake (PoS) Layer 1 blockchain designed to bring real-world assets on-chain. The network launched on mainnet in March 2021 and operates on CBC Casper consensus, a deterministic protocol that provides instant finality, which is critical for financial transactions, regulated assets, and enterprise workflows. Casper is among the first Layer 1 networks to support multiple virtual machines running in parallel, enabling those with different technologies

South Korea's People Power Party held a closed-door meeting on March 23rd with representatives from major cryptocurrency exchanges to discuss the abolition of the virtual asset taxation system scheduled for implementation in 2027, and to hear proposals on stablecoin issuance and legislation. Party whip Song Yeon-seok has proposed amending the Income Tax Law to address the double taxation issue.

Gate News - On March 21, South Korea's National Tax Service plans to complete the selection of virtual asset custodian service providers in the first half of this year. This initiative stems from a virtual asset theft incident that occurred last month, when the National Tax Service accidentally leaked mnemonic phrase information while announcing the results of an on-site investigation, resulting in the seized virtual assets being stolen twice.