TechFlow reported, according to an official announcement, Gate.HK voluntarily withdrew its application for a virtual asset trading platform license from the Hong Kong Securities and Futures Commission on May 22. Gate.HK CEO Kevin Lee stated: "Currently, Gate.HK is readjusting its business direction. Our team places great importance on compliant operations in Hong Kong and will continue normal operations in Hong Kong under the premise of meeting regulatory requirements and delivering the best user experience. We are also actively exploring possibilities regarding other compliance licenses, including but not limited to reconsidering the application for a Hong Kong virtual asset trading platform license or other types of local compliant licenses."
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