OKX has announced the discontinuation of its centralized cryptocurrency trading services for Hong Kong residents starting May 31, 2024, in compliance with regulatory requirements. The decision to withdraw its virtual asset service provider (VASP) license application was attributed to a reevaluation of its business strategy. Customer funds are secure, and withdrawal services will continue as usual. After the deadline, Hong Kong customers can only withdraw funds, not trade or deposit. OKX's Web3 self-hosted wallet services will remain accessible. Users are advised against depositing funds post-deadline, with open orders to be canceled. OKX, along with other applicants, withdrew VASP license applications in Hong Kong. Only two exchanges have received approval to operate legally. This decision follows OKX's cessation of services in India due to regulatory issues. Read more AI-generated news on: https://app.chaingpt.org/news