JPEX released a 400 million USDT asset redemption plan, but it cannot be fully redeemed within two years

ChainCatcher news, after the Hong Kong Securities and Futures Commission and the police took action against JPEX, and local telecommunications service providers blocked it yesterday, JPEX announced on its official website that in response to the unprecedented difficulties faced by the company, it plans to launch an asset exchange program for "DAO stakeholder dividends" worth approximately 400 million USDT, claiming that users can exchange their assets for this stakeholder dividend, but they cannot fully convert it back to USDT in the first two years.

JPEX also stated that until the assets are locked on the platform for two years, they can be converted to USDT at 100%, and on September 21, users will be allowed to vote. If approved, the platform will resume normal operations on May 1 next year.