All crypto exchanges and trading platforms that have failed to file for license applications with the regulator by Feb. 29 must wind up their business in Hong Kong by May 31.
Hong Kong has stopped accepting license applications from crypto exchanges as of Feb. 29 and will soon require all noncompliant trading platforms to close their business locally.
The Securities and Futures Commission (SFC) of Hong Kong noted that all crypto exchanges in Hong Kong that have failed to file for license applications must wind up business by May 31, 2024.
The Hong Kong SFC also urged investors using virtual asset trading platforms to “make preparations early” and migrate to one of the players that have either already received operating licenses or have applied for one.
