TechFlow reported, according to an official announcement, Gate.HK voluntarily withdrew its application for a virtual asset trading platform license from the Securities and Futures Commission of Hong Kong on May 22. Kevin Lee, CEO of Gate.HK, 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 here, ensuring compliance requirements are met while delivering the best possible user experience. We are also actively exploring possibilities for applying for other types of regulatory licenses, which may include reconsidering the application for a Hong Kong virtual asset trading platform license or pursuing other license types available locally."
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