🚨 Hong Kong crypto exchanges must obtain a VATP license from the SFC by February 29 or close within 3 months.

- 18 exchanges submitted applications, including OKX, Bybit, Crypto.com, HKVAX

- 4 applications withdrawn, including Huobi HK

- Licensed exchanges will be able to accept retail investors to trade BTC and ETH

- Only OSL and HashKey received VATP licenses

- Unauthorized crypto exchanges - a problem in Hong Kong

- JPEX and Hounax exchanges collapsed due to Ponzi allegations, damage to investors - $180 million and $18.9 million

- BitForex exchange stopped the withdrawal of funds and froze $56 million, the investigation continues