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Crypto Exchange OKX Withdraws Hong Kong License Application

OKX, one of the largest crypto exchanges, said it withdrew its application to provide digital asset services in Hong Kong. "After careful consideration of our business strategy, we've decided to withdraw OKX HK's VASP license application at this time," the exchange said on its website. The exchange, the third largest by volume traded, according to CoinGecko data, will stop providing centralized virtual asset trading services in the territory by May 31, it said. After that, customers will be able only to withdraw their funds. Earlier this month a number of other applicants withdrew their applications with the Securities and Futures Commission.

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