Seven of the original 24 applicants withdrew their application, citing regulatory pressure. One of the SFC's requirements that has triggered the mass withdrawal is the regulatory body's mandate that prevents mainland Chinese residents from accessing VATPs in HongKong
Saniya Raahath is a journalist who writes for CoinCodeCap, with her work also appearing in NewsX and The Quint. She specializes in covering news and developments in the cryptocurrency and blockchain industry, including topics such as regulatory changes, market trends, and notable events. Her articles provide insightful analysis and up-to-date information for readers interested in the world of digital currencies.