{
  "id": 17915900,
  "title": "Crypto.com to withdraw Hong Kong consumer app citing regulatory changes",
  "url": "https://urgent.news/2026/11/03/crypto-com-to-withdraw-hong-kong-consumer-app-citing-regulatory",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T05:10:19.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/crypto-com-hong-kong-app-shutdown-license-pending"
  },
  "original_language": "en",
  "account": "Crypto.com has announced plans to discontinue its consumer app services in Hong Kong, effective February 1, 2027. The company confirmed the shutdown to Bloomberg, stating that affected customers have been notified and will receive guidance on closing their accounts and withdrawing funds. Crypto.com cited regulatory changes as the reason for the discontinuation, according to emails sent to its users in the region.\n\nThe consumer app, operated by Foris DAX MT Limited, is set to be withdrawn while Crypto.com continues to pursue regulatory approval for its institutional exchange, Crypto.com Exchange. A separate entity, Foris DAX HK Limited, has been seeking a Hong Kong virtual asset trading platform license. As of now, Foris DAX HK Limited holds a transitional status of \"deemed-to-be-licensed,\" indicating that it has not yet received full regulatory approval from the Securities and Futures Commission (SFC).\n\nDespite the ongoing efforts to secure a license for the institutional exchange platform, Crypto.com has not yet received a response from the company regarding the matter. The company's Hong Kong entity submitted the virtual asset trading platform license application on February 9, 2024, but nearly three years later, the status remains as \"deemed-to-be-licensed.\"",
  "summary": "Crypto.com will discontinue its consumer app services in Hong Kong in February next year.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Crypto.com to shutter consumer app in Hong Kong in February",
        "url": "https://urgent.news/2026/11/03/crypto-com-to-shutter-consumer-app-in-hong-kong-in-february",
        "published": "2026-11-03T02:55:00.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "China market regulator to encourage Hong Kong listings",
        "url": "https://urgent.news/2026/11/03/china-market-regulator-to-encourage-hong-kong-listings",
        "published": "2026-11-03T03:37:14.000Z"
      },
      {
        "outlet": "Tech in Asia",
        "title": "Crypto.com to shut Hong Kong app in February 2027",
        "url": "https://urgent.news/2026/11/03/crypto-com-to-shut-hong-kong-app-in-february-2027",
        "published": "2026-11-03T03:44:11.000Z"
      },
      {
        "outlet": "SCMP Business",
        "title": "Tokenised gold bar to advance Hong Kong’s ambitions as digital, metal trading hub",
        "url": "https://urgent.news/2026/11/03/tokenised-gold-bar-to-advance-hong-kongs-ambitions-as-digital-metal",
        "published": "2026-11-03T03:54:43.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}