According to Foresight News, BitgetX.hk has announced its decision to withdraw its application for a Virtual Asset Service Provider (VATP) license in Hong Kong due to business reasons. The company will cease all cryptocurrency-related services in the region, take down the BitgetX.hk website, and orderly withdraw existing users in compliance with regulatory requirements. Previously, BitgetX.hk had considered applying for a Hong Kong license but had not yet formally submitted an application.