ChainCatcher news, according to Ming Pao, the virtual asset trading platform VAEX plans to prohibit Hong Kong users from trading starting at 10 AM on May 30.Previous news, VAEX's application for a virtual asset trading platform license in Hong Kong was withdrawn on May 24.

ChainCatcher news, according to Ming Pao, the licensing transition period for virtual asset service providers (VASP) in Hong Kong will end at the end of this month, and the Securities and Futures Commission will decide whether existing service providers can continue operations. Recently, several platforms, including OKX and VAEX, have withdrawn their license applications, citing high compliance costs in Hong Kong and low local market attractiveness.Industry insiders believe that the liquidity and trading currencies of local platforms are not as good as those overseas, and the stricter regulatory conditions are reasons for the withdrawal of license applications.Currently, only two platforms have been licensed by the Securities and Futures Commission, while 18 are in the application process. Industry professionals suggest strengthening the tokenization of virtual assets in real-world applications to enhance market acceptance and practical use.

According to ChainCatcher news, the latest update from the Hong Kong Securities and Futures Commission (SFC) official website shows that VAEX's application for a virtual asset trading platform license has been withdrawn on May 24. Relevant information indicates that the name of the virtual asset trading platform operator company submitted by VAEX is "Hong Kong VAEXC Limited," with no applicable Chinese name. VAEX initially submitted the application for the virtual asset trading platform license to the Hong Kong SFC on November 25, 2023. As of now, the number of applicants for virtual asset trading platform licenses that have been withdrawn or returned, as announced by the Hong Kong SFC, is 10, with 1 returned, and the number of applicants for virtual asset trading platform licenses stands at 18.

ChainCatcher news, the cryptocurrency exchange HKVAEX reminds users that its trading platform will be permanently closed, and all users are advised to withdraw their assets before April 30.Previous news, HKVAEX recently announced that it will begin to phase out services starting from April 1, 2024, and its official website will be completely shut down on May 1, 2024.

According to ChainCatcher news, the official announcement states that the virtual trading platform HKVAEX will begin phased service suspension on April 1, 2024, and its official website will be completely shut down on May 1, 2024. From today, HKVAEX will no longer accept new user registrations or virtual asset deposit services.The trading service will close at 23:59 on April 5, 2024, at which point users will be unable to place any new orders, and all existing spot orders will be automatically canceled by the system. After the website delists, users who need assistance with asset withdrawals or any other issues can contact the team via email for further help.Previous reports indicate that, according to the official website of the Hong Kong Securities and Futures Commission, HKVAEX's application for a virtual asset trading platform license submitted to the Hong Kong Securities and Futures Commission has been withdrawn.

ChainCatcher news, according to the official website of the Hong Kong Securities and Futures Commission, the virtual asset trading platform license application submitted by HKVAEX has been withdrawn.Relevant information shows that the name of the virtual asset trading platform operator company submitted by HKVAEX is "BX SERVICES LIMITED," the application submission date was January 4, 2024, and the application was withdrawn on March 28, 2024.According to the information disclosed by the Hong Kong Securities and Futures Commission, the reasons for the license application being returned, rejected, or withdrawn include but are not limited to the following: the license application was returned by the SFC due to incompleteness and/or unresolved significant issues; and the license application was rejected or withdrawn.Previously, on January 4, HKVAEX submitted a virtual asset trading platform license application to the Hong Kong Securities and Futures Commission. Informed sources stated that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong. The HKVAEX trading platform's website shows that it is using Binance servers to obtain content, and there are similarities in the shared code of the two companies, with nearly identical templates for terms of use, indicating that the two companies may also share legal resources. In response, a Binance spokesperson stated that HKVAEX does not belong to the Binance group of companies.

ChainCatcher news, the Hong Kong Securities and Futures Commission has updated the list of applicants for virtual asset trading platforms. The latest information shows that "BX SERVICES LIMITED" submitted an application for a virtual asset trading platform license on January 4. The company does not have a Chinese name, and its virtual asset trading platform is named "HKVAEX".Previously, according to the South China Morning Post, informed sources stated that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong. The HKVAEX exchange's website shows that it is using Binance servers to obtain content, and there are similarities in the shared code of the two companies, with the terms of use having almost identical templates, indicating that the two companies may also share legal resources. However, a Binance spokesperson later stated that HKVAEX does not belong to the Binance Group.

ChainCatcher news, according to Cointelegraph, a spokesperson for the Hong Kong cryptocurrency exchange HKVAEX stated: The exchange has not yet applied for a virtual asset trading platform license from the Hong Kong Securities and Futures Commission (SFC) and is still in preparation. HKVAEX should not be confused with VAEXC. Hong Kong VAEXC Limited (VAEX) applied for a virtual asset trading platform license in Hong Kong on October 25, and VAEXC is another applicant with no relation to us.

ChainCatcher news, according to official information, the Hong Kong Securities and Futures Commission has updated the list of applicants for virtual asset trading platforms. The latest information shows that "Hong Kong VAEXC Limited" submitted an application for a virtual asset trading platform license on November 25. The company does not have a Chinese name, and its virtual asset trading platform is named "VAEX".As of now, a total of 8 companies have formally submitted applications for virtual asset trading platform licenses to the Hong Kong Securities and Futures Commission, and one application from "AMMBR (HK) LIMITED" has been withdrawn.

ChainCatcher news, according to the South China Morning Post, informed sources revealed that the Hong Kong cryptocurrency exchange HKVAEX plans to apply for a license in Hong Kong. The sources stated that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong. The HKVAEX exchange's website shows that it is using Binance servers to obtain content, and there are similarities in the shared code of the two companies, with the terms of use having almost identical templates, indicating that the two companies may also share legal resources.In response to questions about its relationship with Binance, HKVAEX stated in an email, "HKVAEX is an independent virtual asset trading platform headquartered in Hong Kong, operated by a technical team from the financial services industry and experienced professionals, and is currently preparing to apply for the 'SFC Virtual Asset Trading Platform' license."In this regard, a Binance spokesperson stated that HKVAEX does not belong to the Binance Group.