The crypto trade large OKX will shutter its digital asset buying and selling providers in Hong Kong on the finish of the month.
OKX says it determined to tug its software for a digital asset buying and selling platform license in Hong Kong “after cautious consideration of the enterprise improvement prospects.”
The trade will cease offering buying and selling providers on Might thirty first, although its prospects will nonetheless have the ability to make withdrawals. OKX’s web3 self-hosted pockets may also proceed to supply providers to prospects.
OKX is considered one of ten crypto exchanges which have withdrawn their buying and selling platform license purposes within the particular administrative area.
The Justin Solar-affiliated buying and selling large HTX additionally pulled its software in late February. The Seychelles-headquartered trade reapplied shortly afterward however withdrew its software once more earlier this month, in accordance with a report from the South China Morning Put up (SCMP).
The particular administrative area’s monetary regulator, the Securities and Futures Fee (SFC), has up to now licensed solely two crypto buying and selling platforms, although 18 different exchanges are awaiting choices on their purposes.
Hong Kong launched new crypto trade laws final June. Some digital asset stakeholders have argued they’re a burden for buying and selling platforms, in accordance with an SCMP report.
OKX, which can also be headquartered within the Seychelles, is at the moment the third-largest crypto trade by 24-hour buying and selling quantity, behind solely Binance and Bybit, in accordance with CoinGecko.
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