Crypto Exchange OKX Withdraws Hong Kong License Application
Summary
OKX, a major cryptocurrency exchange, has withdrawn its application to provide digital asset services in Hong Kong. The decision was made following a review of the company's business strategy. The exchange will cease offering centralized virtual asset trading services in the region by May 31, after which customers can only withdraw their funds. This follows similar withdrawals by other applicants, including Huobi Hong Kong. Currently, major exchanges like Crypto.com and Bullish are undergoing license reviews by the Securities and Futures Commission (SFC), which has only approved two exchanges so far, the most recent in 2022.
