The post Bitget Announces Closure and Withdrawal from the Hong Kong Market appeared first on Coinpedia Fintech News

Bitget has decided not to pursue a Virtual Asset Trading Platform (VATP) license in Hong Kong.

Bitget’s Hong Kong division, BitgetX, will cease operations by December 13, 2023.

Users are advised to withdraw their crypto assets from BitgetX before the closure date, as they will no longer be able to access their assets after that.

Bitget, a virtual asset trading platform (VATP) in Hong Kong, has decided not to apply for a VATP license and will cease operations as of December 13, 2023. This decision will result in the permanent withdrawal of BitgetX.hk from the Hong Kong market. Here are some frequently asked questions and answers regarding the closure and the necessary actions for users.

Users Urged to Withdraw Assets

The exchange BitgetX announced it will shut down on December 13, the company announced in a statement. Users are strongly encouraged to withdraw their crypto assets from BitgetX before that date.

“After this date, the BitgetX website will no longer be accessible, and you will not be able to manage or access your assets on BitgetX,” the statement noted.

BitgetX did not provide a specific reason for the shutdown but said that it is “committed to providing our users with the best possible experience.” The company also said that it will be “working with our users to ensure a smooth transition.”

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Filed under: Bitcoin - @ November 13, 2023 11:23 am