Affected users have begun receiving notifications regarding the shutdown, with instructions to finalize account closures and withdraw remaining balances. The company has not provided a specific timeline for when individual services will be restricted ahead of the February deadline, directing customers to its help center for asset liquidation procedures.
In section Cryptocurrency
Crypto.com to shutter Hong Kong consumer app by 2027
Crypto.com will pull its consumer-facing application from the Hong Kong market on February 1, 2027, citing shifting regulatory conditions. While the retail platform prepares for a total exit, the company confirmed it will continue pursuing a formal license to operate an institutional-grade exchange within the city.
Foris DAX HK Limited, the corporate entity managing the company's institutional ambitions, has maintained a pending license application with the Securities and Futures Commission (SFC) since February 2024. The firm currently operates under a transitional "deemed-to-be-licensed" status, a legal designation granted to platforms that were active before the city’s 2023 regulatory overhaul. However, the SFC maintains that this status does not guarantee final approval, and the regulator has seen several major industry players, including OKX and Gate.HK, withdraw their applications entirely during the vetting process.
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