#OKX , a leading cryptocurrency exchange, has decided to withdraw its Virtual Asset Service Provider (#VASPs ) license application in Hong Kong. This decision, announced on the OKX blog, is part of a strategic shift in the company's business approach, although the specific reasons for the withdrawal remain undisclosed.
As a result, #OKX. 
will terminate its centralized crypto exchange services for Hong Kong residents starting May 31, in compliance with local regulatory requirements. The exchange reassured users that their funds remain secure, but deposits made after May 31 might not be automatically credited, and any open orders will be canceled. Withdrawals for Hong Kong residents will be supported until August 31, after which any remaining balances will be designated as “unclaimed property” according to the platform’s terms.
