Bitget Launches BitgetX HK for Hong Kong Users, Bitget.com Stops Operations in Hong Kong

Bitget Launches BitgetX HK for Hong Kong Users, Bitget.com Stops Operations in Hong Kong

Crypto exchange Bitget announced the launch of BitgetX HK, a spot trading and P2P trading platform for Hong Kong users. The platform intends to apply for the license under the Hong Kong Virtual Asset Service Provider (VASP) regime and will operate under the transitional arrangement that will be created under the Hong Kong VASP regime until its license application is approved.

The VASP regime will come into force on June 1st, 2023. Due to the introduction of new regulations, Bitget.com will not be able to serve Hong Kong users from June 1st. Hong Kong users on the platform will need to transition to BitgetX HK, and will no longer be able to access Bitget.com. Users will have two weeks to close any open perpetual contract or margin trading positions, and withdraw their virtual assets from Savings products.

 

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