ChainCatcher news, according to official sources, BitgetX.hk announced that, for commercial reasons, it has decided to withdraw its application for a virtual asset service provider (VATP) license in Hong Kong and will, in accordance with regulatory requirements, cease all cryptocurrency-related services in Hong Kong, take down the BitgetX.hk website, and orderly exit existing users. Previously, BitgetX.hk had considered applying for a Hong Kong license but had not formally submitted an application.

ChainCatcher news, the encrypted exchange BitgetX announced on July 4th a strategic partnership with the Hong Kong Virtual Asset Rating Agency (HKVAC). HKVAC, as an independent professional credit agency, provides credit ratings for the crypto industry, particularly for cryptocurrency exchanges and all actively traded cryptocurrencies.This collaboration aims to promote the healthy development of the digital asset industry in Hong Kong, including the establishment of compliance management standards for trading platforms, improving trading quality, and providing better risk management services for investors while creating a safe trading environment.

ChainCatcher news, the virtual asset exchange BitgetX has announced the launch of its website and the opening of registration and trading services. The platform serves users in the Hong Kong region and currently supports Traditional Chinese and English. The platform has launched spot trading services for over 200+ cryptocurrencies.It is reported that BitgetX is planning to apply for a Virtual Asset Service Provider (VASP) license from the Hong Kong Securities and Futures Commission, in accordance with the "Guidelines for Virtual Asset Trading Platform Operators" that will take effect on June 1 of this year and the "Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022" passed on December 7, 2022, to provide compliant virtual asset trading services for Hong Kong users.