Crypto.com says Hong Kong users have received notice that its consumer app service will end Feb. 1, 2027, and will get instructions for account closure and fund withdrawals.
Foris DAX MT Limited runs the consumer app. Its affiliate, Foris DAX HK Limited, submitted an application on Feb. 9, 2024, to operate a separate institutional exchange in Hong Kong.
The Hong Kong Securities and Futures Commission (SFC) lists Foris DAX HK Limited as deemed-to-be-licensed. That designation is not formal approval, and Crypto.com said it will continue to pursue authorization for the exchange. The two tracks concern different services: the closure affects a consumer app, while the application is for an institutional exchange.
The deadline marks the start of a Hong Kong winddown Crypto.com had previously announced. In notices to users, Crypto.com pointed to regulatory changes and described the closure as part of broader efforts to optimize global operations and prioritize opportunities it views as sustainable over time.
