After the transition period for licensing of virtual asset trading platforms in Hong Kong: international giants such as Binance and OKX are still active, and regulatory challenges and market opportunities coexist

1. The current situation after the transition period: According to Hong Kong 01, the licensing transition period of the Hong Kong Virtual Asset Trading Platform (VATP) has ended for nearly a month, but some international platforms such as Binance, OKX, Bybit, etc. have not completely left the market. These platforms continue to provide services in Hong Kong in some ways, although there is uncertainty about the status of their license applications.

2. Operation of the Binance platform: It was found through actual testing that the Binance platform is still in operation, and new accounts can be successfully registered using local IP addresses and Hong Kong identity cards. This shows that despite the uncertainty of regulation, Binance still chooses to maintain its services in the Hong Kong market. 3. Registration strategy of the OKX platform: Although the OKX platform prohibits users from choosing Hong Kong as the address in its services, it allows users to choose mainland China as the address for registration and supports mainland identity card verification. At the same time, users can also complete the registration process using a Hong Kong IP address. This strategy shows that OKX is trying to avoid the regulatory risks of providing services directly in Hong Kong, but still maintains a certain degree of access to the Hong Kong market.

4. Bybit platform license application withdrawn: It is worth noting that Bybit's application for a Hong Kong virtual asset trading platform license was withdrawn on May 31. However, according to reports, platforms such as Bybit still provide services in Hong Kong through some means, which may include using pop-up statements or other means to "show off".

5. Summary: Although the transition period for the issuance of licenses for virtual asset trading platforms in Hong Kong has ended, some large international platforms still choose to provide services in the Hong Kong market in different ways. This reflects the importance these platforms attach to the Hong Kong market, and also shows that they seek a balance between compliance and continued operations when facing regulatory pressure. For investors and users, understanding the operating conditions and regulatory status of these platforms, as well as how they respond to regulatory challenges, is an important consideration in making investment decisions.