OKX to halt services for Canadian customers
On 24 March 2023, OKX will cease providing services to Canadian users and close registrations for new accounts in response to “new rules.” The information comes from Cointelegraph citing an email from the bitcoin exchange.
According to the notice, clients must close positions by June 22. All funds must also be withdrawn by the specified date.
“Funds will remain secure on your account until you withdraw them,” clarified the exchange representatives.
They added that the measure is temporary, and the company “is working with regulators to resolve this issue.”
In early 2022, OKEx changed its name to OKX, to underscore its commitment to developing the crypto industry and the Web3 ecosystem Web3.
In August, the Ontario Securities Commission said there had been a violation by the bitcoin exchange operator of local securities law.
Earlier, the regulator fined Bybit and ordered KuСoin to cease operations. Binance and Bitfinex announced their decision to discontinue servicing residents of the province.
In December, CSA warned of tighter requirements on crypto firms after the FTX collapse.
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