The post <a rel="nofollow" href="https://coinpedia.org/news/bitget-announces-closure-and-withdrawal-from-the-hong-kong-market/">BitgetX.hk Announces Closure and Withdrawal from the Hong Kong Market</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
BitgetX.hk has decided not to pursue a Virtual Asset Trading Platform (VATP) license in Hong Kong. 
BitgetX.hkHong 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. 
BitgetX.hk, a virtual asset trading platform (VATP) in Hong Kong, has<a href="https://www.bitgetx.hk/zh-TW/footer/announce"> decided</a> 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. 
Implications for BitgetX Users 
The <a href="https://www.bitgetx.hk/en/footer/announce">shutdown</a> of BitgetX will have a number of implications for its users. First, users will need to find a new cryptocurrency exchange to trade on. There are a number of other cryptocurrency exchanges operating in Hong Kong, such as Binance and Crypto.com. 
Second, users will need to withdraw their virtual assets from BitgetX before December 13th, 2023. After this date, users will not be able to access their assets on BitgetX. 
To withdraw their assets from BitgetX, users will need to log into their account and create a withdrawal request. The withdrawal process will vary depending on the cryptocurrency being withdrawn. Users should consult the BitgetX support center for more information on how to withdraw their assets. 
Impact on the Hong Kong Cryptocurrency Market 
The shutdown of BitgetX is a setback for the Hong Kong cryptocurrency market. BitgetX was one of the largest cryptocurrency exchanges operating in Hong Kong. The shutdown will reduce the number of options available to investors looking to trade cryptocurrencies in Hong Kong. 
It is unclear what impact the shutdown of BitgetX will have on the overall Hong Kong cryptocurrency market. However, the shutdown is likely to lead to a decrease in trading volume on cryptocurrency exchanges in Hong Kong. 
Overall, the shutdown of BitgetX is a significant event for the Hong Kong cryptocurrency market. It is important for BitgetX users to withdraw their assets from the exchange before December 13th, 2023. Investors looking to trade cryptocurrencies in Hong Kong should research other cryptocurrency exchanges to find one that meets their needs.

BitgetX.hk Announces Closure and Withdrawal from the Hong Kong Market

CoinPedia News

Other articles published on Nov 13, 2023

SEC Bitcoin ETF Approvals Could Arrive by January, Analysts Predict

Navigating Bull Traps In Financial Markets And Cryptocurrency

ESA’s InCubed-Enabled Satellites MANTIS and Intuition-1 Launched: A Leap for AI in Space

Unlock the magic of Malta Week 2023: Your must-have event guide

US Options Exchange Cboe Launching Margined Bitcoin Futures

Top Altcoins to Watch in 2023: Pendle, DUSK, and Centrifuge

Join our free newsletter for daily crypto updates!