TechFlow reports that BitgetX.hk has announced, for commercial reasons, its decision to withdraw its application for a Hong Kong Virtual Asset Service Provider (VASP) license. In accordance with regulatory requirements, the company will cease all cryptocurrency-related services in Hong Kong, take the BitgetX.hk website offline, and orderly wind down existing user accounts. Previously, BitgetX.hk had considered applying for a Hong Kong license but had not formally submitted an application.
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