Recently, Binance, OKX, HTX, Bybit, Gate and other trading platforms have withdrawn their applications for exchange licenses. This phenomenon is indeed thought-provoking and there must be something fishy.
According to Wu, the Hong Kong SFC has forced all platforms to sign a letter of commitment to ensure that mainland Chinese users are not accepted in any region.
OKX tried to apply through the alliance, but the prospects were slim and it had no choice but to withdraw, while other platforms were also taking a wait-and-see attitude.
To be honest, for those exchanges on the Hong Kong list, wise investors would probably be discouraged.
Hong Kong has limited territory. If the mainland user market is lost, the significance of applying for a license is indeed greatly reduced.
Hong Kong has tried to achieve zero-risk web3 innovation from the beginning, which has led to doubts from the outside world whether it truly accepts web3 technology.
This may be a sequelae, and its approach is quite similar to ours.
It is still unknown how long the negative impact of this incident will last and how it will be resolved. But what is certain is that the Hong Kong web3 without Binance and OKX is difficult to convince people that it can provide a safe, open and free innovation environment.
Many cities are vying for the position of web3 capital, while Hong Kong is seeking innovation amidst many restrictions, which is undoubtedly a difficult task.
We still need to wait and see what the future holds.
However, no matter how the situation evolves, it will have little impact on us, so you can rest assured.
As I said before, I am currently planning some good currencies at this stage
If you are interested and want to witness the strength
You can leave a comment 6六8 in the comments, and you can join the team for free!
I will not let my fans miss out in this bull market! This is the truth👈
