OKX Withdraws VASP License Application from Hong Kong

OKX Withdraws VASP License Application from Hong Kong



OKX, a prominent cryptocurrency exchange, has announced its decision to withdraw its Virtual Asset Service Provider (VASP) license application from Hong Kong. This strategic move, detailed in a notice on OKX’s blog, aligns with the company's revised business strategy, although specific reasons were not disclosed.



As a consequence, OKX will cease its centralized crypto exchange services for Hong Kong residents effective May 31, adhering to local regulatory mandates. The exchange has assured users that their funds are secure, yet deposits made post-May 31 might not be automatically credited, and any open orders will be canceled. Withdrawals for Hong Kong residents will be supported until August 31, after which any remaining balances will be classified as “unclaimed property” per the platform's terms.



OKX had initially submitted its


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