In the fiercely competitive field of digital currency exchanges, every slight mistake may cause huge waves. Recently, a topic about the former vice president of AAX has attracted widespread attention: the company is not registered in Hong Kong, and this omission may force the company to dissolve. What kind of story is hidden behind this incident? Let us dig deeper and uncover the veil of the Hong Kong Stock Exchange.

From the beginning, AAX has attracted much attention for its innovation and transparency. However, just when people thought that the exchange would be unstoppable, a storm was coming. The revelations of the former vice president of AAX undoubtedly cast a shadow on the company. It is reported that the company has not completed the registration procedures in Hong Kong, which not only exposes the negligence of the management, but also may cause legal risks and put the company in an unmanageable predicament.

As an international financial center, Hong Kong has a strict and fair regulatory environment. If an exchange wants to survive and develop in this prosperous land, compliance operation is its foundation. However, AAX made a fatal mistake in this link. Failure to complete registration means that the company faces the risk of forced dissolution, which is not only shocking, but also raises doubts about the company's management level in the industry.

The mistakes of the company's management are not just a momentary negligence, but also a serious test for the entire exchange governance system. The revelation of the former vice president of AAX undoubtedly gave industry insiders a warning: compliance is crucial in the digital currency industry. If an exchange wants to be invincible, it must strictly abide by local laws and regulations and operate in compliance to win the trust of users and regulators.

This incident also gave other digital currency exchanges a profound revelation: corporate governance cannot be sloppy. In this highly competitive industry, only by strictly abiding by regulations and operating in compliance can we be invincible in the market. The remarks of the former vice president of AAX may be a wake-up call, reminding all practitioners that compliance can last for a long time.

In summary, the incident revealed by the former vice president of AAX that the company did not complete registration in Hong Kong is not only a management error of an exchange, but also a warning to the entire industry. In this turbulent digital currency field, only by operating in compliance can we be invincible. I hope that every exchange can learn lessons, abide by regulations and laws, and jointly promote the healthy development of the industry.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Hong Kong AAX, on November 13, stopped user withdrawals, and even rumors spread that the senior management had absconded with the funds. Yesterday morning, the AAX Taiwan customer service Line group also deleted the group after the staff claimed that "the group is going to be disbanded, see you in the rights protection group in the future", and several official accounts have also been closed.

Former Vice President: AAX is now more likely to be disbanded than to resume operations

AAX's irresponsible and passive response has caused many users to worry that their assets may be lost. According to the latest report of "CoinDesk" yesterday, Ben Caselin, the former vice president of AAX who has resigned, pointed out that AAX is now more likely to be disbanded than to resume normal operations, which is undoubtedly another blow to users.

Caselin said in an interview that before November 19, he thought the company seemed to be in good shape and that it was much more likely to turn to a more legal procedure. But after that, he lost his optimism. As negotiations with potential investors continued, the situation was deteriorating rapidly and decision-making became more opaque.

He also announced his resignation on Monday, writing that he had fought hard for the community, but none of them were accepted by the company. AAX no longer exists and the brand trust is gone.

"I once trusted this exchange very much. But now the exchange handles things without empathy and too opaque. Including my family, people came to me for help, but I was powerless... I still believe that the situation will be handled properly without malice, but the damage has been done, the brand no longer exists, and the trust has been destroyed."

In addition, when many people in the community asked why they did not report the case to the Hong Kong police, Caselin also responded on his Twitter yesterday: Although AAX is based in Hong Kong, AAX is an exchange registered in Seychelles, so it is useless.

Some criminals are using the official name to defraud

In addition, the currency circle (120Btc.com) would like to remind you that in the rights protection group of the remaining AAX users, some netizens have begun to issue warnings, saying that unknown people have used the names of previous AAX customer service staff or internal staff to falsely claim that they can help users retrieve funds, but in fact they are private messages of fraud, deliberately targeting group members. Please be careful.