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Bitget drops plans to hunt crypto license in Hong Kong

Cryptocurrency buying and selling platform Bitget has dropped plans to acquire a Digital Asset Buying and selling Platform (VATP) license in Hong Kong, citing enterprise and market-related issues.

Bitget formally announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the area BitgetX.hk, will stop operations by Dec. 13, 2023.

As Bitget determined to not apply for a VATP license, the agency must completely withdraw from the Hong Kong market, the announcement notes.

The corporate has strongly inspired customers to withdraw crypto property from BitgetX earlier than Dec. 13. “After this date, the BitgetX web site will now not be accessible and also you will be unable to handle or entry your property on BitgetX,” the assertion famous.

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