BitMEX Launches Dedicated Service in Hong Kong Ahead of VASP Regulation

Summary:
Starting from May 29, 2023, Hong Kong-based customers will lose access to BitMEX services through the current website and API connections. They will be transitioned to the BitMEX Hong Kong mobile app, which offers portfolio management tools. Existing verified users will not require further KYC or verification processes, and new Hong Kong users will need to sign up through the BitMEX Hong Kong app. Read full article below.

In light of the impending Hong Kong Virtual Asset Service Provider (VASP) regulation, BitMEX has announced the launch of BitMEX Hong Kong, a new specialized service. Beginning at the end of the month of May in 2023.

Hong Kong-based BitMEX customers will lose access to HDR Global Trading Limited’s services through the present website and API connections as of May 29, 2023.

Users in Hong Kong will be moved to HDR BMEX Limited, a wholly owned subsidiary in Hong Kong, to guarantee a smooth transition. From the indicated date forward, they may only get support through the downloadable BitMEX Hong Kong mobile app.

All Eyes on Hong Kong Market

The BitMEX Hong Kong app provides a full suite of tools for portfolio management. Users have access to 11 trading pairs for instantaneous buying and selling, and they may use over 30 different currencies to safely acquire cryptocurrencies.

At 13:00 HKT on May 29, 2023, all unfulfilled orders, incomplete price quotes, and requests for currency conversions will be annulled. Any unspent funds will be transferred to your BitMEX Hong Kong account free of charge. Users in Hong Kong who have already been verified will not be subject to any further KYC or verification processes.

Please be aware that the current trading platform will no longer allow new Hong Kong Users as of May 29th, 2023. Instead, Hong Kong residents will need to download the BitMEX Hong Kong app in order to sign up for an account.

BitMEX Hong Kong makes it simple to manage holdings by providing instantaneous access to information like as wallet balances, transaction histories, deposits, withdrawals, and watchlists. Major crypto firms are eyeing Hong Kong amid clear and favorable conditions set the regulatory body.