Welcome to Extreme Investor Network!
At Extreme Investor Network, we strive to bring you the latest and most valuable information in the world of cryptocurrency, blockchain, and more. Today, we have an exclusive update on OKX HK’s recent decision to withdraw its Virtual Asset Service Provider (VASP) license application in Hong Kong.
OKX HK Withdraws VASP License Application
OKX HK, a key player in the Hong Kong cryptocurrency market, recently announced the withdrawal of its VASP license application on their official website. This strategic decision was made in alignment with their business goals and regulatory requirements.
While centralized virtual asset trading services will cease for Hong Kong residents by 31st May 2024, customer funds are secure, and withdrawal services will continue uninterrupted.
Impact on Hong Kong Customers
Customers will be able to withdraw their assets until the specified date, with OKX Web3 (self-hosted wallet) services remaining available. A cautionary note has been issued, advising against deposits into OKX accounts after 31st May 2024, as they may not be processed automatically. Open orders not closed by the deadline will be cancelled, with funds transferred to customer accounts.
Asset withdrawal to self-custody wallets or third-party platforms is permitted until 31st August 2024, after which direct requests will no longer be accepted. Any remaining balances post the Closure Date will be treated as unclaimed property, according to OKX’s terms of use.
For further inquiries or concerns, customers can reach out to the OKX customer service team.
Image source: Shutterstock
Stay Updated with Extreme Investor Network
Continue to follow Extreme Investor Network for exclusive insights, news, and updates in the world of crypto, blockchain, and more. Our experts are dedicated to providing you with valuable information to enhance your investment journey.