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Crypto.com to shut Hong Kong consumer app on 1 Feb 2027

Crypto.com has confirmed it will close its consumer app in Hong Kong on 1 Feb 2027, citing regulatory changes, while its separate local entity keeps seeking a virtual asset trading platform licence.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Crypto.com to shut Hong Kong consumer app on 1 Feb 2027
Image: Cointelegraph
Original reporting: Ezra Reguerra, Cointelegraph

Key points

  • Crypto.com confirmed the shutdown to Bloomberg on 2 November and said affected users had been told how to close accounts and withdraw funds.
  • The consumer app is run by Foris DAX MT Limited; Foris DAX HK Limited applied for a Hong Kong VATP licence on 9 Feb 2024.
  • Foris DAX HK Limited is still listed as "deemed-to-be-licensed" on the SFC register, a transitional status rather than full approval.

Crypto.com will shut down its Hong Kong consumer app on 1 Feb 2027, the company confirmed to Bloomberg on 2 November. Customers affected by the closure have been notified and will be given instructions on closing their accounts and withdrawing their funds, the company said.

Emails to users in Hong Kong cited regulatory changes as the reason, according to the local outlet HK01. The consumer app is operated by Foris DAX MT Limited, a different entity from Foris DAX HK Limited, which is pursuing a virtual asset trading platform licence in the city.

Securities and Futures Commission records show Foris DAX HK Limited filed its VATP application on 9 Feb 2024.

What to watch: Crypto.com's institutional exchange application with Hong Kong's SFC remains pending, and the consumer app is due to close on 1 Feb 2027.

Read the full story on Cointelegraph

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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