Hong Kong Crypto exchange HKVAEX to permanently shut down amid regulatory pressure
Amidst the breakthrough in Hong Kong’s cryptocurrency infrastructure, HKVAEX, a local digital asset trading platform, made its intermittent closure plan public, resulting in a final shutdown on May 1st, 2024. This decision occurred amid the ongoing pressure for regulatory oversight of the cryptocurrency industry, following the region’s example of Hong Kong. Regulatory scrutiny and closure…