Hong Kong authorities are considering tightening cryptocurrency regulations following alleged fraud at JPEX, an unlicensed cryptocurrency exchange. Six individuals have been arrested and over 1,400 complaints have been lodged against the exchange, leading to calls for stricter supervision. The Securities and Futures Commission (SFC) had previously warned the public about JPEX's unlicensed status. The SFC is now considering further tightening of cryptocurrency regulations to prevent similar situations in the future. JPEX has temporarily suspended trading and is reportedly in talks with third-party market makers to resolve liquidity issues.

The article discusses the potential value of Dogecoin if it were to reach the market cap of Bitcoin or Ethereum. Currently, Bitcoin has a market cap of $521 billion, and if Dogecoin were to reach this, each DOGE token would be worth $3.70, a 59x increase from its current price. Ethereum, the second-largest cryptocurrency, has a market cap of $196 billion, and if Dogecoin were to reach this, each DOGE token would be worth $1.39, a 22x increase from its current price. The article also mentions that if Bitcoin and Ethereum were to fall to the current market cap of Dogecoin, their values would significantly decrease. The price differences between these cryptocurrencies at the same market cap are due to their circulating supply.

Cardano's founder, Charles Hoskinson, has dismissed rumors of a conspiracy against Ripple Labs by the SEC and Ethereum. He suggests that Ethereum may have avoided SEC scrutiny due to personal relationships and behind-the-scenes dealings. Hoskinson denies that Ethereum would have bribed the SEC to target Ripple Labs, stating that Ripple's XRP is not a competitor in the smart contract ecosystem. He also commented on allegations by Steven Nerayoff, an early Ethereum adviser, that the SEC overlooked Ethereum's shortcomings during its ICO stage. The SEC has been in a legal battle with Ripple Labs over allegations of offering unregistered securities to the public.

The crypto market has seen significant outflows, with Bitcoin and Ethereum bearing the brunt of these losses. Bitcoin funds accounted for 85% of the outflows, decreasing by $45 million last week. Despite this, Solana, Cardano, and XRP have seen inflows, with Solana leading with $700,000. Trading volume has also increased by 42%, indicating active participation and engagement of traders in the crypto market. However, the overall net inflows for the year have dropped to a mere $51 million after this outflow spree.

Swiss company AnonyCard is developing a crypto bank card in collaboration with major Swiss financial services industry players. The card will be 100% cryptocurrency-based, without KYC prerequisites, and free of payment constraints. AnonyCard will charge a transaction fee of 0.1% with an upper limit of 100 USDT per transaction. The card will support FIAT payments using major cryptocurrencies, including BTC, ETH, and XRP. To fund this venture, AnonyCard has initiated an ICO for the ANCA token, with 1,500,000,000 tokens available at prices ranging from $0.008 to $0.012 in 3 separate stages.

Binance, a top crypto exchange, has announced a scheduled system upgrade for selected Binance Earn products on Sept. 20, which may impact Shiba Inu and XRP holders. The upgrade, expected to last three hours, aims to enhance system performance and stability. During this period, all Liquid Swap services will be suspended, potentially causing disruptions on subscriptions and redemptions for various products. Scheduled cryptocurrency purchases via existing Auto-Invest plans may also be delayed. Binance added XRP and Shiba Inu to the Auto-Invest platform in May, and the platform supports over 200 assets.

The Italian fast food chain Welly's, which is a partner of Shiba Inu (SHIB), is set to launch a major upgrade to its website. Welly's, which opened in Naples in 2021, has chosen the Shiba Inu dog as its mascot and is an early investor in the SHIB community. The restaurant chain is planning to expand globally and is integrating into the recently launched Layer-2 solution Shibarium, created by the SHIB dev team. There are hopes that Welly's will start burning SHIB tokens as part of this integration. SHIB marketing expert Lucie has urged the SHIB community to migrate from crypto exchanges to Shibarium, reminding them that each transaction on Shibarium contributes to SHIB burns.

Chainlink (LINK) was the highest gainer in the cryptocurrency market in the past 24 hours, according to CoinmarketCap, with a 5.78% profit. Despite the marginal profit, LINK topped the gainers chart, reflecting the relative lack of volatility in the crypto market. Other top gainers include ROSE, APE, CSPR, and NEXO. LINK has a market cap of $3.66 billion and a total of 556 million LINK tokens in circulation. The other top gainers also saw increases in their values, with ROSE gaining 3.95%, APE 3.47%, CSPR 3.41%, and NEXO 2.37%.

The Hong Kong Securities and Exchange Commission (SFC) has initiated an investigation into the JPEX cryptocurrency exchange, leading to one arrest. The exchange is accused of operating without a license and has received 83 complaints. In response to the probe, JPEX has suspended trading operations. The SFC had previously warned JPEX about promoting its services without a VATP license. JPEX has claimed unfair treatment and is considering restructuring as a decentralized autonomous organization (DAO).

Hong Kong police have arrested social media influencer Joseph Lam Chok for his involvement with the cryptocurrency trading platform JPEX, which is facing fraud allegations. The arrest followed the suspension of all trading activities on JPEX after a probe by Hong Kong’s Securities and Futures Commission (SFC). The SFC had issued a warning against JPEX for falsely claiming to have applied for a license with the regulator. The police have received at least 83 complaints related to the exchange involving cryptocurrencies worth about HK$34 million (US$4.3 million). JPEX has also vacated its Taipei office, and local influencers who promoted the exchange are being questioned.