Crypto.com to withdraw Hong Kong consumer app citing regulatory changes

Update (Nov. 3, 2026, 11:10 am UTC): This article has been updated to include comments from a Crypto.com spokesperson.

Crypto.com will discontinue its consumer app services in Hong Kong on Feb. 1, 2027, while continuing to pursue regulatory approval for its institutional exchange.

On Tuesday, a Crypto.com spokesperson told Cointelegraph that the company would discontinue its consumer app services in Hong Kong. The spokesperson said all affected customers had received advance notice and would receive instructions on closing their accounts and support to withdraw their funds. 

According to local news outlet HK01, Crypto.com cited regulatory changes in emails sent to its users in Hong Kong. The consumer app is operated by Foris DAX MT Limited, while a separate entity, Foris DAX HK Limited, is seeking a Hong Kong virtual asset trading platform license.

According to the Securities and Futures Commission’s (SFC) public register, the company’s Hong Kong entity submitted its VATP license application on Feb. 9, 2024. Nearly three years later, Foris DAX HK Limited remains listed as “deemed-to-be-licensed” — a transitional status rather than full regulatory approval.

The spokesperson said the shutdown reflects Crypto.com’s efforts to optimize global operations and allocate resources toward sustainable long-term opportunities. However, the statement did not specify which regulatory changes prompted the decision.

Crypto.com also plans to continue pursuing the VATP license application for its institutional platform. The company said it remains committed to the broader Asia-Pacific region and working with regulators worldwide to support responsible industry growth.

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