TechFlow news: Hong Kong Legislative Council member Ricky Choi expressed concerns that the regulations requiring cryptocurrency exchanges to obtain licenses are too stringent, criticizing them for driving several major global exchanges away from Hong Kong and undermining market confidence.
Previously, the Securities and Futures Commission stipulated that crypto trading platforms failing to submit license applications by February 29 must cease their operations in Hong Kong by May 31. As a result, many global exchanges, including OKX, Gate.io, and HTX, have withdrawn their licensing applications in Hong Kong.
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