Coinspeaker
HKX Wind Downs Operations in Hong Kong, Withdraws Licensing Application
Digital asset trading platform HKX has joined the exchanges pulling off licensing applications from the Hong Kong Securities and Futures Commission (SFC). Asking current users to quickly withdraw their crypto holdings, the management team of the company declared their intention to stop running business in Hong Kong. The company wrote:
“We would like to inform you that our management team has, after careful consideration, decided to withdraw our application for the Type 1 and Type 7 licenses under the Securities and Futures Ordinance (Cap. 571) and the virtual asset service provider license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).”
In February HKX first sought a license from Hong Kong. Like many other cryptocurrency trading platforms, the exchange battled to satisfy the city-state’s regulatory criteria. With one application being returned fo
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