Bitget to launch a new Hong Kong platform
Bitget to launch a new Hong Kong platform
Cryptocurrency exchange Bitget has informed its users in Hong Kong that they need to switch to the new BitgetX HK trading platform in order to continue cooperation.
As of May 15, 2023, the cryptocurrency exchange will close client access to Bitget.com in Hong Kong due to non-compliance with new regulatory requirements. Therefore, all users of this platform must close all open positions on perpetual contracts or margin trading and transfer their assets to BitgetX HK before the deadline, according to TokenInsight website.
Based in Hong Kong, BitgetX HK is preparing to apply for a license under Hong Kong's new Virtual Asset Service Provider (VASP) regulations. Until the license is granted, BitgetX HK will operate under a transitional agreement created to comply with the introduction of the new VASP regulations.
The Bitget cryptocurrency exchange reminds its users that they can continue spot and P2P trading, but perpetual contracts and savings products will not be available on BitgetX HK. Also, the platform does not support some tokens, so it is recommended to withdraw them to a private wallet or convert them to USDT.
Earlier, it was reported that cryptocurrency exchange Bitget had received a license in Lithuania.
Bitget was founded in 2018 and focuses on traders of all levels of experience. The company has licenses in four countries. Also, the exchange has its own trading platform, and its users can trade through both a web platform and a mobile app.
