Bittime – OKX operates globally, offering crypto asset trading in most countries where it is permitted. In the United States, its services are provided through its subsidiary, OKCoin, which operates in cities such as San Francisco, San Jose, New York City, as well as internationally in Malta, Hong Kong, Singapore and Japan.
Resignation of OKX VASP Services in Hong Kong, OKX Self Custody Still Running
On May 24, 2024, OKX announced that they would withdraw their application for a VASP license in Hong Kong. As a result, the exchange will cease services to Hong Kong customers starting from May 31, 2024. However, OKX's self-custody crypto wallet service will remain available to users in Hong Kong.
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Crypto Exchange Industry & Regulatory Challenges
OKX is not the only exchange to withdraw from Hong Kong; HTX exchange, also known as Huobi Hong Kong, had previously withdrawn their application with the Securities and Futures Commission. Currently, VASP license applications from other exchanges such as CryptoCom and Bullish are still under review.
June OKX Says Goodbye From Japan
This decision follows a series of withdrawals by OKX from various markets due to regulatory challenges. In June, OKX announced their withdrawal from Japan, citing changes in local laws.
March OKX leaves India
Earlier this year, in March, the exchange stopped operations in India for not complying with Anti-Money Laundering ( AML ) regulations. These repeated withdrawals indicate that OKX is having difficulty meeting regulatory requirements in some jurisdictions.
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Hong Kong's Industry-Friendly Attitude & Crypto Regulations
Despite OKX's withdrawal, it is worth noting that Hong Kong has been positioning itself as a crypto-friendly jurisdiction since the middle of last year. Hong Kong authorities have encouraged crypto companies to set up their global headquarters in the city under newly proposed crypto regulations.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also:
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OKEx to Launch Spot Trading Tensor (TNSR) Tonight
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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