**According to CryptoSlate citing the South China Morning Post (SCMP):**

JPEX, an unlicensed cryptocurrency exchange in Hong Kong, has initiated restrictions on withdrawals without prior notice. Users have reported that their stablecoins and other withdrawable assets are being converted into JPC, JPEX's proprietary token, and that they are currently unable to withdraw their assets. The price of JPC is not known at this time. JPEX has stated that these measures are "related to the billing system that allows assets to be converted 1:1 in the future."

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