Crypto.com has emailed users in Hong Kong to say it will gradually stop providing services there, citing "regulatory changes." The company said it will share detailed arrangements and asset withdrawal instructions through email and its app. Its app service is scheduled to stop in February next year. Separately, Foris DAX HK Limited filed an application for a virtual asset trading platform license in February 2024 and is still awaiting a final decision from the Hong Kong Securities and Futures Commission. The company is currently deemed to be licensed, which allows it to continue offering related services for now, but the regulator has stated that it has not yet been formally licensed and that the application remains under review. The development was reported by HK01.
Crypto.com has emailed users in Hong Kong to say it will phase out its services in the city, citing "regulatory changes." The company said detailed arrangements and instructions for asset withdrawals will be sent through email and its app.
Its app service is scheduled to stop in February next year.
License application still awaiting a final decision
Foris DAX HK Limited filed an application for a virtual asset trading platform license in February 2024. The application is still awaiting final approval from the Hong Kong Securities and Futures Commission.
The company is currently in a deemed-to-be-licensed status and can continue providing related services. The SFC has noted, however, that it has not been formally licensed and that the application is still pending.
The development was reported by HK01.
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