HKX management advises users to withdraw assets following its decision to halt operations in Hong Kong due to regulatory compliance issues.
The Securities and Futures Commission of Hong Kong (HKSFC) has added HKX to the increasing number of cryptocurrency exchanges that have withdrawn their license applications in the region.
On July 18, the HKX management team announced its decision to shut down the Hong Kong-based crypto exchange, advising existing users to withdraw their crypto assets. The notice that was published on the official website stated:
HKX initially applied for the Hong Kong license in February. However, the exchange — like many others — failed to comply with Hong Kong’s regulatory requirements.
