The Singapore-based crypto exchange Bitget’s Hong Kong division said on Nov. 13 that it is no longer seeking a trading license to operate in that region. Market rumors suggest that Bitgetx’s decision not to seek the license may be linked to the rumored Bitget acquisition of OSL, a licensed Hong Kong exchange.
No New Users Accepted
Bitgetx, the subsidiary of the Singapore-based cryptocurrency exchange Bitget, announced on Nov. 13 that it had dropped its pursuit of a Virtual Asset Trading Platform (VATP) license in Hong Kong. As a consequence, Bitgetx said its Hong Kong website — www.Bitgetx.hk — will cease operations and permanently exit Hong Kong on Dec. 13.
The crypto platform said users from the region should remove their assets before this date. Users who fail to do so will permanently lose access to these assets once the exchange ceases operations, Bitgetx added. Furthermore, no trading of assets will be permitted and no new users will be accepted between now and the deadl
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