Update (Nov. 3, 2026, 11:10 a.m. 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 shut down its consumer app services in Hong Kong. All affected customers have received advance notice and will be given instructions on closing their accounts, along with support for withdrawing their funds.

According to local news outlet HK01, the company 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 (VATP) license. Hong Kong's VATP regime, introduced by the SFC in June 2023, requires centralized crypto trading platforms to be licensed in order to serve users in the city, part of the government's broader effort to position Hong Kong as a digital asset hub.

Data from the Securities and Futures Commission's (SFC) public register shows that 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, one that permits a platform to keep operating while the SFC completes its review. The regulator has so far granted full VATP licenses to only a limited number of operators.

The spokesperson said the shutdown reflects Crypto.com's efforts to optimize global operations and allocate resources toward sustainable long-term opportunities. The company's statement did not specify which regulatory changes prompted the decision. For affected users, the timeline is set: account-closure instructions and withdrawal support are being provided ahead of the Feb. 1, 2027 cutoff.

Crypto.com said it plans to continue pursuing the VATP license application for its institutional platform. The company added that it remains committed to the broader Asia-Pacific region and is working with regulators worldwide to support responsible industry growth. Attention now turns to whether the SFC moves Foris DAX HK Limited's application from deemed-to-be-licensed status to full approval, and how the firm's institutional licensing path develops alongside its consumer exit from the Hong Kong market.