The Hong Kong High Court is set to hear the case of eight defendants involved in the JPEX cryptocurrency exchange fraud on December 15. This follows the prosecution of 16 individuals by Hong Kong police, including core members and key opinion leaders, while the alleged mastermind remains at large. Some defendants have been granted bail. In response to the JPEX case, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, announced plans to update the regulatory framework. Proposed changes will focus on trading, stablecoins, custody, and digital asset dealers, aiming to enhance oversight and prevent future incidents.