Crypto.com plans to stop operating its consumer app in Hong Kong on February 1, 2027, citing regulatory changes, Cointelegraph reported on November 3. The company confirmed the move to Bloomberg on Monday, November 2. Cointelegraph said it had contacted Crypto.com for comment but had not received a reply before publication.
Crypto.com cited the regulatory changes in emails to Hong Kong users, as reported by HK01, but the reporting does not say which changes it means. The consumer app is run by Foris DAX MT Limited. A separate entity, Foris DAX HK Limited, is applying for a Hong Kong virtual asset trading platform licence.
The Securities and Futures Commission register shows that application was submitted on February 9, 2024. Nearly three years later, Foris DAX HK Limited is still listed as deemed-to-be-licensed, a transitional status rather than full approval. Crypto.com told Bloomberg it will keep pursuing the licence for its institutional-grade Crypto.com Exchange platform.
Affected customers have been notified and will receive instructions for closing their accounts and withdrawing their funds. No deadline beyond the February 1, 2027 shutdown date has been reported.
The decision separates the retail app from the exchange licence effort, so Hong Kong users lose the consumer product while the company’s longer-term plans for the city rest on the pending application.
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