Crypto exchange OKX has announced that it will no longer serve users or accept new account requests from Canada. 

OKX to cease operations in Canada

In an email on Mar. 24, OKX asked all its Canadian users to close any open positions in options, perpetual, all margined positions, and future by Jun. 22, 2023, 12:00 AM EST.

OKX also asked users to withdraw fiat currency or tokens in their accounts before the said date. 

However, the exchange assured its Canadian users that their funds would remain safe until they withdrew them. Customers can withdraw tokens to their self-custody wallets or crypto accounts on other crypto asset trading platforms and dollars to their linked bank accounts.

The company said its withdrawal from the Canadian market is a temporary step for regulators to address the ‘new regulations’ issue. The OKX official signed, “We hope to see you again. Stay tuned.”

The company emailed its customers about the oncoming cessation of services on Mar. 20, 2023.

Previously, Bittrex Global, a cryptocurrency exchange, ceased serving Canadians on Jul. 29, 2022, after giving advance notice on the same regulatory developments grounds.

CSA notice on crypto

Canadian Securities Administrators (CSA) published a  Go to Source to See Full Article
Author: Julius Mutunkei

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details