Bitget, a global digital asset exchange, has announced the launch of BitgetX Hong Kong, a platform for spot and peer-to-peer trading for Hong Kong users. The company aims to apply for a license under the Hong Kong Virtual Asset Service Provider (VASP) regime and will operate under the transitional arrangement created under the regime until its license application is approved.

As of June 1, 2023, the Hong Kong VASP regime will come into force, and Bitget.com will not be able to serve Hong Kong users due to new regulations. Therefore, from April 24, 2023, Hong Kong users of Bitget.com will need to transition to BitgetX.hk and will no longer be able to access Bitget.com.

Users will need to transfer their assets from Bitget.com to BitgetX.hk. Bitget users can use the same login and password on Bitgetx.hk to access their account.

Users will not be able to place new spot, margin, or perpetual contract trades or buy or sell virtual assets on Bitget.com after April 24, 2023. However, they may continue with spot trading and P2P trading on BitgetX.hk, while perpetual contracts and savings products will not be available.

If users do not wish to transfer their assets to BitgetX.hk, they may withdraw them into a private wallet by May 15, 2023. Those who have virtual assets that are not supported at BitgetX.hk may withdraw these tokens to a private wallet or convert them to USDT.