OKX, the second largest offshore crypto exchange, has announced the withdrawal of its VASP license application in Hong Kong. The company will cease to provide centralized crypto exchange services to Hong Kong residents by May 31, 2024. However, OKX's Web3 services, including its self-hosted wallet, will continue to be available for Hong Kong users. The decision to withdraw the application is part of OKX's business strategy. This marks the third major crypto exchange to withdraw its license application in Hong Kong.