1 year ago
The Singapore-based crypto speech Bitget’s Hong Kong part said connected Nov. 13 that it is nary longer seeking a trading licence to run successful that region. Market rumors suggest that Bitgetx’s determination not to question the licence whitethorn beryllium 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 speech Bitget, announced connected Nov. 13 that it had dropped its pursuit of a Virtual Asset Trading Platform (VATP) licence successful Hong Kong. As a consequence, Bitgetx said its Hong Kong website — www.Bitgetx.hk — volition cease operations and permanently exit Hong Kong connected Dec. 13.
The crypto level said users from the portion should region their assets earlier this date. Users who neglect to bash truthful volition permanently suffer entree to these assets erstwhile the speech ceases operations, Bitgetx added. Furthermore, nary trading of assets volition beryllium permitted and nary caller users volition beryllium accepted betwixt present and the deadline day.
“We apologize for immoderate inconvenience and challenges this determination whitethorn cause. Our precedence remains to guarantee a creaseless and orderly offboarding for each our users. Our lawsuit enactment squad is disposable to assistance with immoderate queries oregon concerns regarding the closure and the transportation of your assets. We convey you for your enactment and knowing during these times of change,” the crypto speech said.
Meanwhile, the renowned Asian blockchain and crypto journalist, Colin Wu, stated successful a station connected X (formerly Twitter) that Bitgetx’s determination not to question the VATP licence could beryllium linked to Bitget’s rumored acquisition of OSL, a licensed Hong Kong exchange.
BitgetX hk announced its determination not to use for a compliant cryptocurrency speech licence successful Hong Kong. Market rumors that Bitget has acquired oregon invested successful Hong Kong’s archetypal licensed exchange, OSL. OSL announced contiguous that it would suspend trading owed to large matters.…
— Wu Blockchain (@WuBlockchain) November 13, 2023
While OSL has not formally acknowledged the acquisition, it did denote the halt successful trading of its shares connected the Hong Kong banal speech connected the greeting of Nov. 13. The determination to halt trading, OSL said, was made “in respect of a notifiable transaction which constitutes wrong accusation of the company.”
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