Coinspeaker
Binance’s HKVAEX Withdraws Application to Obtain Regulatory License in Hong Kong

HKVAEX, a cryptocurrency exchange allegedly backed by Binance, has withdrawn its application to obtain a regulatory license to offer its business offerings in Hong Kong following the country’s introduction of a comprehensive regulatory framework for digital asset service providers (DASPs).

The company, which offers its products and services to the public as BX Services Limited, applied for the license on January 4, 2024. However, on March 28, 2024, the firm appeared on the list of applicants who had withdrawn their applications, according to the Hong Kong Securities and Futures Commission (SFC) website.

HKVAEX Joins HTX to Withdraw Application

The SFC announced last year that it had started accepting applications from crypto exchanges seeking to enter the country and explore its digital asset market legally.

Earlier this month, Coinspeaker reported