Categories: MarketsMenafn

HKVAEX Discontinues HK License Pursuit

HKVAEX — allegedly linked with Binance — recently withdrew its virtual asset trading platform  application in Hong Kong, originally submitted to the Securities and Futures Commission (SFC).

The move came after the Hong Kong securities regulator imposed a deadline of February 29 for crypto exchanges and firms to apply for the license. The license application withdrawal took place on Mar. 28, 2024.

HKVAEX Withdraws License Application

HKVAEX has withdrawn its application for a virtual asset trading platform license in Hong Kong. The withdrawal, which occurred on Thursday, Mar. 28, comes amidst unclear reasons, speculated to be related to audit company changes or insufficient materials.

HKVAEX originally applied for the license on Jan. 4, aligning with Hong Kong’s Feb. 29 deadline for crypto exchange applications. Non-compliant platforms are slated to cease services by the end of May. Furthermore, three other virtual asset trading platforms including HTX withdrew their license applications in 2024, alongside HKVAEX, though the reasons remain undisclosed. 

Meanwhile, the relationship between the crypto exchange and Binance has sparked speculation, as evidenced by their website’s use of Binance servers for content retrieval and similarities in shared code. Both companies’ terms of use templates closely resemble each other, suggesting potential shared legal resources.

Despite these findings, a Binance spokesperson has denied any affiliation between the two entities, asserting that the crypto exchange is not part of the Binance Group. The discrepancy between technical evidence and official statements adds complexity to understanding the true nature of the relationship between HKVAEX and Binance, leaving observers questioning the extent of their connection.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

LunarBet Opens $LUNR Token Presale to Disrupt Crypto iGaming with Real Token Utility

BVI, Tortola, 9th July 2025, ZEX PR WIRE, LunarBet has officially opened its $LUNR token…

2 days ago

Inside Tearline’s FlowAgent: A Modular AI Agent Bridging the Execution Trust Gap

British Virgin Islands, BVI, 7th July 2025, ZEX PR WIRE, Enterprise-level adoption of AI agents…

2 days ago

Created by Parents, Backed by Child Experts — Can Hey Bubba Finally Get Preschool TV Right?

Austin, Texas, 8th July 2025, In a sea of overstimulating preschool content, a new YouTube…

2 days ago

ROM: Golden Age Blasts Past 500,000 Pre-Registrations—Join the Buddy Boost Lottery for a Shot at Massive Crypto Prizes

Singapore, 8th July 2025, ZEX PR WIRE, Big news: ROM: GoldenAge—the hottest upcoming blockchain strategy…

3 days ago

Camp Network Acquires Strategic Stake in KOR Protocol to Accelerate Tokenized IP and AI-Native Content

This partnership brings new IP and creative assets onchain to power new forms of collaborative…

3 days ago

TR.ENERGY: Buy TRON Energy and Fee Savings on USDT Transfers in the TRX Network

Sharjah, UAE, 5th July 2025, ZEX PR WIRE, TR.ENERGY is a high-tech decentralized platform for efficient…

5 days ago