Gate.HK Withdraws License Application, Halts Hong Kong Operations
- Gate.HK to cease operations in Hong Kong, citing regulatory concerns
- Trading to be halted on May 28; user withdrawals allowed until August 28
- Platform overhaul planned with a potential return to Hong Kong after obtaining necessary licenses
Gate.HK, a subsidiary of cryptocurrency exchange Gate.io, has announced significant changes to its platform and services as it discontinued operations in Hong Kong, withdrawing its license application. This move is attributed to a strategic overhaul focused on enhancing security and compliance for its users.
Effective immediately, Gate.HK will cease accepting new user registrations and asset deposits. All token trading, including major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), will be halted on May 28, 2024, at 4:00 PM (Hong Kong time).
This includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Polkadot (DOT), Polygon (MATIC), Uniswap (UNI) and Tether USD (USDT). Users are strongly advised to close their positions and withdraw their assets from the platform by August 28, 2024.
Gate.HK’s decision to withdraw its application for licensin…
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