The crypto change big 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 growth prospects.”
The change will cease offering buying and selling providers on Could thirty first, although its clients will nonetheless be capable of make withdrawals. OKX’s web3 self-hosted pockets will even proceed to offer providers to clients.
OKX is considered one of ten crypto exchanges which have withdrawn their buying and selling platform license purposes within the particular administrative area.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 big HTX additionally pulled its software in late February. The Seychelles-headquartered change reapplied shortly afterward however withdrew its software once more earlier this month, in response to a report from the South China Morning Submit (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 change rules final June. Some digital asset stakeholders have argued they’re a burden for buying and selling platforms, in response to an SCMP report.
OKX, which can be headquartered within the Seychelles, is at present the third-largest crypto change by 24-hour buying and selling quantity, behind solely Binance and Bybit, in response to CoinGecko.
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