On March 20, OKX cryptocurrency exchange Notifying Canadian users via email that the company “will no longer provide services or allow users to open new accounts in Canada as of March 24, 2023, 12:00 AM EST,” referring to the “new rules.”
According to OKX, existing Canadian clients must close their open options, margin, perpetual and futures positions by June 22, and their fiat currencies or tokens must be withdrawn by June 22. that day
“Your funds will remain safe in your account until you withdraw them. You will be able to withdraw dollars to your linked bank account and cryptocurrencies to your own wallet or your crypto account on another exchange.
OKX said its withdrawal from Canada was “temporary” and was working with regulators to resolve the issue. “We hope to see you again in the future. Please stay tuned,” the OKX staffer wrote.
Previously, Bittrex Global disabled Canadian users on July 29, 2022 following a notice. It cited regulatory developments as the reason for leaving the country.
Currently, cryptocurrency exchanges All must be registered with Canadian regulators before they are open to domestic users. On June 22, 2022, ByBit and KuCoin were fined millions of dollars after the Ontario Securities Commission ruled that they were operating in violation of local regulations.
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