Date: 26 September 2023
Virtual Assets Regulatory Authority (VARA) is issuing this Alert to call the attention of all investors and market participants, to recent media coverage of regulatory action that is being considered and/or has been initiated against the Virtual Asset Service Provider (VASP) JPEX and/or associated companies within the holding group [operational through www.jp-ex.io] and specific individuals associated with these entities.
Investors and Customers are advised to note:
Customers may wish to notify VARA at [email protected] if they have been (i) the subject of any of JPEX’s solicitation/promotional activities; or (ii) if any of JPEX’s services have been made available to them specifically from Dubai.
VARA continues to monitor the situation and may take enforcement actions against JPEX and any responsible individuals as may be warranted subject to evidenced wrongdoing. VARA is the competent entity in charge of regulating, supervising, and overseeing Virtual Asset services in the Emirate of Dubai (excluding the Dubai International Financial Centre).
This ALERT represents a notification to the public regarding JPEX’s regulatory licence status, and is not intended to be a substitute for any individuals’ own due diligence. For avoidance of doubt, please seek independent, professional advice.