Bitget to Shut Down Hong Kong Crypto Exchange Unit: What You Need to Know

Bitget, a global digital asset exchange, has announced its decision to cease operations in Hong Kong by Decem. This move stems from the firm’s choice not to pursue a crypto license in Hong Kong due to regulatory considerations.

Specifically, Bitget's official Hong Kong website will become inaccessible effective Decem, marking its permanent exit from the jurisdiction. Users are advised to withdraw their assets promptly.

In an official statement released on Novem, the crypto exchange disclosed that its Hong Kong division, BitgetX, is set to cease operations within a specified timeframe. Crypto exchange Bitget's Hong Kong unit will halt operations on Dec. 13 after deciding not to apply for a local crypto license, the firm announced Monday.

Consequently, BitgetX HK will officially shut down its operations on December 13. This follows a similar announcement earlier this year; On July 18, the HKX management team announced its decision to shut down the Hong Kong-based crypto exchange, advising existing users to withdraw their crypto.

The exchange, citing regulatory considerations, did not intend to pursue a crypto license in Hong Kong. Therefore, if you are a Bitget user in Hong Kong, it is crucial to withdraw your assets before the December 13th deadline. Stay informed about further updates and instructions on the withdrawal process through official Bitget channels.