Cryptocurrency Trading to be Suspended by OKX for Hong Kong Users as of May 31st

IconCryptoNewsTerminal Staff24 May, 2024

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Cryptocurrency Trading to be Suspended by OKX for Hong Kong Users as of May 31st

OKX, a Chinese cryptocurrency exchange, has recently announced that they will cease providing crypto trading services to users in Hong Kong from May 31st. This decision was made after the exchange withdrew its application for a local VASP (Virtual Asset Service Provider) license from its Hong Kong-based subsidiary, OKX HK. After the suspension date, OKX will only support the withdrawal of crypto assets held by Hong Kong users. This move aligns with Hong Kong's regulatory approach towards cryptocurrency trading and licensing requirements for VASP's.