The owner of the Tokyo Stock Exchange and the Osaka Exchange, Japan Exchange Group (JPX) warned investors about companies that are misleading by offering crypto assets under the JPX brand.
JPX issued the notice after learning about an ongoing scheme to deceive unsuspecting investors into trading Bitcoin (BTC) and other cryptocurrencies on platforms posing as JPX or one of its subsidiaries.
The bogus organisations in issue are using JPX names, logos, and URLs in various versions of their platforms and marketing campaigns, including variants of JPEX, jpex, and Japan Exchange, according to the company. While JPX has yet to allow Japanese investors to trade cryptocurrency, it is actively leading a number of initiatives to test blockchain and distributed ledger technology (DLT) with traditional finance.
The aforementioned effort, according to JPX, aims to use blockchain technology to improve data transparency and data collecting efficiency. Furthermore, the company has launched testing and research with 33 Japanese financial institutions to investigate the idea of incorporating blockchain or distributed ledger technology (DLT) into its existing capital market infrastructure.
