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BitMart has withdrawn its application for a virtual asset service provider license in Hong Kong, following similar moves by other major crypto exchanges. The decision reflects growing regulatory challenges and strategic shifts in the Asian market. This exodus raises questions about Hong Kong’s ambitions as a crypto hub.
- BitMart withdrew its VASP license application in Hong Kong on Thursday, as listed by the SFC.
- The withdrawal follows similar decisions by Bybit, OKX, and Gate in late May 2024.
- Hong Kong's regulatory landscape appears to be prompting reassessments among global crypto exchanges.
📎 Related coverage from: cointelegraph.com
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