The queue of crypto exchanges for operational licenses in Hong Kong is shrinking as seven exchanges, including IBTCEX and Huobi HK, withdraw applications ahead of the May 31 deadline.
The number of crypto exchanges seeking operational licenses in Hong Kong is steadily decreasing, even as the deadline approaches.
Three crypto exchanges recently withdrew their license applications filed with the Securities and Futures Commission of Hong Kong (SFC). On May 13, crypto exchanges IBTCEX and QuanXLab withdrew their applications, initially filed in February 2024.
Huobi HK, a crypto exchange with links to HTX, followed suit the next day, as shown in the screenshot below.
